08-12-06
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Real estate price rise on the anvil
Here's a news excerpt which could affect your property investment decisions in the near future.
Quote:
According to a Business Confidence Survey conducted by international real estate consultancy firm DTZ Debenham Tie Leung and the Singapore-based IQPC, real estate prices in the country are expected to further climb up by another 5% to 10% in the next 6 to 12 months.
As per the survey results, the residential segment is expected to drive the real estate market in coming years. There exists a huge demand in this sector, with nearly 80 million dwelling units required in next 10 years.
The market also expects the cost of funds to increase in the next year. But it is not perceived to have any impact on the growth of the market as RBI's recent interventions are likely to rein in speculation rather than impede growth.
"In established IT/ITeS centres like NCR and Bangalore, retail and hospitality are considered to be the main drivers. For emerging IT/ITeS centres like Kolkata, Chennai and Hyderabad , IT/ITeS is expected to drive the market. Interestingly, the residential sector is not perceived to be the main driver individually in these cities, thereby indicating that Tier II and III towns, which have tremendous untapped real estate potential, shall be driven by the residential segment.
- Economic Times
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