Press Esc to close
Tuesday 21 October 2014
News updated at 12:08 PM IST
Weather
Max: 0°C
Min : 0°C
In Bangalore
Sunny day

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
Army recruits during their attestation parade at Madras Regimental Centre, Wellington, Ooty on...

Army recruits during their attestation parade at Madras Regimental Centre, Wellington, Ooty on...

In this Wednesday, Oct. 15, 2014 photo, a Kashmiri woman blocks a road during a protest demanding...

In this Wednesday, Oct. 15, 2014 photo, a Kashmiri woman blocks a road during a protest demanding...

Prime Minister Narendra Modi at the 42nd Convocation of the All India Institute of Medical...

Prime Minister Narendra Modi at the 42nd Convocation of the All India Institute of Medical...

Devendra Fadnavis hugs his mother Savita after his victory during the Assembly election in...

Devendra Fadnavis hugs his mother Savita after his victory during the Assembly election in...

Union Minister of State for Commerce and Industry, Nirmala Sitaraman launching the Online Export...

Union Minister of State for Commerce and Industry, Nirmala Sitaraman launching the Online Export...

Prime Minister Narendra Modi with BJP President Amit Shah after the party's parliamentary...

Prime Minister Narendra Modi with BJP President Amit Shah after the party's parliamentary...

In this Oct. 17, 2014 photo, a thick blanket of smoke is seen against the setting sun as...

In this Oct. 17, 2014 photo, a thick blanket of smoke is seen against the setting sun as...

In this Monday, Oct. 13, 2014 photo, an Indian woman uses her hand to put sawdust in an...

In this Monday, Oct. 13, 2014 photo, an Indian woman uses her hand to put sawdust in an...

(L-R) Asha Bhat, Miss Diva Universe 2014 2nd runner up, Noyonita Lodh, Miss Diva Universe 2014...

(L-R) Asha Bhat, Miss Diva Universe 2014 2nd runner up, Noyonita Lodh, Miss Diva Universe 2014...

An Indian man teaches yoga postures to schoolchildren at Delhi Public School in Hyderabad...

An Indian man teaches yoga postures to schoolchildren at Delhi Public School in Hyderabad...

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