Mubashir Aalam Wani
Srinagar, Jul 15: In a surprising trend, newlywed couples in Kashmir have emerged as the primary customers in the local real estate market.
As per the real estate agents, many couples are investing in properties, often selling their gold jewellery to fund these purchases.
Sajad Ahmad Khan, a real estate agent said newlywed couples comprise their almost 40 per cent clientele in Kashmir.
“We often get queries from newlywed couples. They are interested in investing their savings into the real estate sector, which in Kashmir has been witnessing a vertical growth. Almost daily, we receive 10-15 calls from newlywed couples for purchase of plots, houses and flats,” he said.
The surge in demand for real estate agents is attributed to a combination of factors, including rising aspirations for homeownership and the desire for stability amid ongoing economic changes.
Real estate agents report a significant increase in inquiries from young couples looking to buy their first home.
According to local developers, newlyweds are drawn to various housing options, from apartments to family homes, as they seek to establish a secure foundation for their future.
The practice of selling gold, traditionally seen as a symbol of wealth and security, has become a practical solution for these couples to finance their property investments.
“Newlywed couples are now more focused on building assets rather than simply acquiring jewellery. They view real estate as a long-term investment that can provide stability and growth over time,” said Imran Malik, a real estate agent in Srinagar.
Zuhaib Ahmad, owner of property developing firm Valley Real Estate said the real estate is slightly getting back to normalcy after sluggish demand for a long period.
“For the last few weeks, we have been getting some clientele but their number is very less. In coming months, we may witness some activity in the sector,” Zuhaib said.
