Home Buying In A Sweet Spot For Deals
Sandeep Singh, New Delhi
Hindustan Times (Delhi edition)
The annual festive season is here amid a stable economic environment, a relatively secure atmosphere on jobs, low interest rates and stable residential property prices after an 18-month-long correction period.
So, is this the time to buy that dream home?
Experts say yes, and their views are backed by the current macroeconomic environment, and the state of real estate sector.
Property prices to remain stable
Property prices dipped between 15 and 30 percent in the slowdown period. However, with a quick revival in markets, home buying sentiments are also up.
"Market has bottomed out and any further correction looks unlikely.
However, I think they are not going to go up in a hurry," said Anuj Puri, chairman and country head, Jones Lang Lasalle Meghraj.
Prices are expected to remain more or less stable. "There is a possibility of price rise in some areas but there won't be a significant change as there is good supply and the global economy is still slow," said Anshuman Magazine, chairman and managing director, South Asia, at property consultancy firm CB Richard Ellis.
Stable prices are expected to help end-users, not speculators.
"It is not the time for investors who are looking to make money in the short term," said Puri.
But certain areas in cities like Mumbai and Delhi where supply remains a constraint has seen some up tick in prices. "I see prices going up because there is demand in the Mumbai market," said Niranjan Hiranandani, managing director, Hiranandani Constructions.
As builders launched affordable home projects over the last three months, they generated some buying interest. But then, speculators were zooming in as well.
Sandeep Singh, New Delhi
Hindustan Times (Delhi edition)
The annual festive season is here amid a stable economic environment, a relatively secure atmosphere on jobs, low interest rates and stable residential property prices after an 18-month-long correction period.
So, is this the time to buy that dream home?
Experts say yes, and their views are backed by the current macroeconomic environment, and the state of real estate sector.
Property prices to remain stable
Property prices dipped between 15 and 30 percent in the slowdown period. However, with a quick revival in markets, home buying sentiments are also up.
"Market has bottomed out and any further correction looks unlikely.
However, I think they are not going to go up in a hurry," said Anuj Puri, chairman and country head, Jones Lang Lasalle Meghraj.
Prices are expected to remain more or less stable. "There is a possibility of price rise in some areas but there won't be a significant change as there is good supply and the global economy is still slow," said Anshuman Magazine, chairman and managing director, South Asia, at property consultancy firm CB Richard Ellis.
Stable prices are expected to help end-users, not speculators.
"It is not the time for investors who are looking to make money in the short term," said Puri.
But certain areas in cities like Mumbai and Delhi where supply remains a constraint has seen some up tick in prices. "I see prices going up because there is demand in the Mumbai market," said Niranjan Hiranandani, managing director, Hiranandani Constructions.
As builders launched affordable home projects over the last three months, they generated some buying interest. But then, speculators were zooming in as well.
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