| Font Size |
"Since March, we have seen movement in the market. Before that, the confidence and sentiments were very low in the real estate market for almost seven months due to global economic slowdown," Global property consultant CB Richard Ellis Chairman and Managing Director (South Asia) Anshuman Magazine said on the sidelines of a CII function.
Magazine said the people have started slowly coming back to the real estate market, mainly attracted by the incentives given by the developers in housing, lower interest rates and price correction.
He, however, said that situation would remain challenging in the real estate market this year and the market is expected to improve in 2010.
"We have seen that across India, especially in low-to-mid income housing projects where prices were reduced, sales have started taking place," Magazine said.
Asked about rise in property prices, he said: "Overall, do not foresee any increase in prices in next six months."
The excess supply, which are in the pipeline, in housing and office segments would keep prices under check, he added.
In the office segment also lot of fence sitters have come back to the market and are buying space, he said.
Discuss this story on expressindia forums
|
|
Another trick to sell the units to un-suspicious buyers. When the developers were over-confident in building luxurious, over-priced, inflated, dream projects they didn't imagine this. They deserve it. Especially in a country where majority of people can't afford more than 10 or 15 Lakhs to buy a house.