The supply and prices of property is to remain stationary till March in 2012. In the first quarter of year 2012 realty market may continue to witness stagnancy in field of residential and commercial properties. The cities in western parts already saw a 20 per cent dip in sale of residential property in the month of December 2011. The high interest rates and rising property prices have already made the market quite slow in last 4-5 months.
It is estimated that till the market will be slow until interest rates falls and developers reduce prices but experts are expecting that at least till first quarter of 2012 there will be no growth in real estate market.
According to sources, in the coming year till the real estate developers will keep postponing the reduction of prices; the consumers will prefer to stay away from purchasing property until there is a possible correction. In the months of November-December there has been 20 per cent decline in purchase of residential property. Buyers have been waiting since months for prices to fall down. In field of supply, developers are reluctant to announce any new projects till the month of December expect for few large projects. The overall supply will be dry in first quarter of year 2012.
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