Press Esc to close
Saturday 01 October 2016
News updated at 2:20 AM IST
Weather
Max: 29.4°C
Min : 21.4°C
In Bengaluru
Generally cloudy

Will demand for new property rise?

March 2, 2012, DHNS

Global economic uncertainties have affected India’s economy, including the real estate market. A survey on the real estate outlook for 2012 by 99acres.com, revealed mixed sentiments with almost 56 per cent brokers and builders expecting the demand for new property to rise over the year. At least 33 per cent say that the demand for resale property will move up, while 26 per cent of them feel that people will not buy property and things will not change much.

A similar survey with buyers however reflects a less ecstatic picture. About 38 per cent of them feel that there will be no activity in the real estate market.

Commenting on the trend, Vineet Singh, Business Head, 99acres.com said, “There are indications in the market that property prices will increase further. For example, home loan rates have already reached a peak and will start decreasing from the April-June quarter; there have been very few launches in the past two quarters and builders have been holding onto inventory and rates. Every year, most key markets witnesses the 2.5-3 lakh apartment launches and April onwards this year as well there will be more new project launches. With fresh supply coming in the market, rates will firm up,” .

On the question of which category of property will witness maximum price appreciation, 50 per cent of all brokers and builders said the mid segment (30 lakh-80 lakh) category while 51 per cent of buyers said the affordable segment (less than 30 lakh).About 53 per cent of buyers said they preferred to buy ready-to-move-in projects as compared to an under-construction or a resale apartment.

Among the buyer respondents, only 12 per cent said that they wanted to invest in a resale apartment. Brokers also echoed the same sentiment as buyers.


Go to Top

Photo Gallery
A hair stylist Kailash Kashid creates a special hair cut slogan of Maratha Kranti Morcha...

A hair stylist Kailash Kashid creates a special hair cut slogan of Maratha Kranti Morcha...

Actor Salman Khan plays with his sister Arpita's kid at an event for the tie-up between...

Actor Salman Khan plays with his sister Arpita's kid at an event for the tie-up between...

Artisans work on a giant model of Hindu god Ganesh during preparations for the upcoming Durga Puja..

Artisans work on a giant model of Hindu god Ganesh during preparations for the upcoming Durga Puja..

The palace witnessed very little visitors on the day and thus children enjoy playing at the...

The palace witnessed very little visitors on the day and thus children enjoy playing at the...

Temples submerged at Gwari Ghat due to floods caused in Narmada River by heavy rains...

Temples submerged at Gwari Ghat due to floods caused in Narmada River by heavy rains...

Indian Army vehicles move towards border areas in Akhnoor sector on India Pakistan Border...

Indian Army vehicles move towards border areas in Akhnoor sector on India Pakistan Border...

BJP activists celebrate the Indian army's Surgical strikes along the Line of Control in PoK...

BJP activists celebrate the Indian army's Surgical strikes along the Line of Control in PoK...

all-party meeting in New Delhi on Thursday following Indian army's surgical strikes along the LoC...

all-party meeting in New Delhi on Thursday following Indian army's surgical strikes along the LoC...

People celebrate after Indian army's Surgical strikes along the Line of Control...

People celebrate after Indian army's Surgical strikes along the Line of Control...

Artists practice the Garba dance ahead of the Navratri festival in Ahmedabad...

Artists practice the Garba dance ahead of the Navratri festival in Ahmedabad...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523