I am planning to sell my apartment in BG Road, Bangalore as I need funds to construct my house. But I believe the market is on a downtrend now. Is it better to sell now or wait for a year. I, unfortunately, cannot wait for more than a year.

Thanks
Venkateswaran Krishnan

P.S - Ignore if this is a duplicate. I posted a similar one yesterday but cannot find it today.
Read more
Reply
5 Replies
Sort by :Filter by :
  • There's no point thinking that the market is on a downtrend or anything. Those are for big players to speculate for the timing of their investments. For you as an individual seller, you can keep the apartment up for sale right away. As and when you get a good buyer, who is willing to pay the right price, go ahead with the sale. There will of course be brokers who will try to convince you that things are pretty bad, and will try to get a better deal for themselves. Keep your eyes and ears open, and adjust your expectation accordingly, since as you mentioned, you anyway have only a year or so to conclude the sale.
    CommentQuote
  • My 2 paise. Enquire the status of new flats in that area. Not the price but how much are sold/left. This should decide it. Don't worry about big or local builder as the market is open for both. I agree with spectre, if you believe there is downtrend then only miracles can make it uptrend in just a year. At the same time, I agree with sgeorge too that you can start looking for buyers from now on. Even if you make a fixed deposit of the money you got, you will be able to make some additional money than wasting time waiting for completion of 1 year.
    CommentQuote
  • More than the right time to buy or sell we must be clear about the right price we are willing to give when we are buying or selling . Genuine buyers are always there but then the pricing must be also kept accordingly to attract the genuine buyers .
    CommentQuote
  • Thanks all. Much appreciated for the inputs
    CommentQuote
  • If you need funds, then you need funds, irrespective of whether the market is good or bad - as you have committed your other project i.e building a house. Try to negotiate better deals or have a tie-up with professional brokers etc...Future is not great for apartments IMO since our infrastructure is tumbling apart but will that make apartments going down in value ? Not sure. Your input says you are not a market player, instead, you are funding another project. Since we do not know how much you had invested in this apartment, and how much expenses incurred for capital and maintenance etc...you are the best judge.
    CommentQuote