Property prices in metros like Delhi, Mumbai are waning whereas in Bangalore they are still stable. According to observations even in economic crises in year 2009 property prices in Bangalore did not fall. Experts believe that the main reason for this stability in Bangalore’s real estate market is the IT hub in the city. This is helping the investors to invest high amount of money in property, this will change Bangalore in strong market sales. It is believed that buyers are reluctant to invest in property until the interest rates moderates. Majority of buyers in Bangalore make investments for their personal usage. Inventory remains stable even if sales volume decline.
In comparison with Delhi which is the biggest realty market in India where people are buying 10 million square feet houses in a month, people n Bangalore are buying house of 6 million square feet every month as per the SBI report. The number of new launches in Delhi and Mumbai has experienced drastic fall in market whereas the realty market in Bangalore is still stable. Critical economic crises are the main reason of downfall which resulted in house absorption drop of 132 million square feet in Delhi and of 99 million in Mumbai. According to Motilal Oswal Financial services the real estate market in Bangalore is likely to witness stability for next 9 to 12 months.
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