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- Property rates in Pune are up already.
They haven't come down; they were down till last year (december) but then after second half of december they are rising or constant.CommentQuote0Flag
- Check the volume growth. Then you will know the truth!
Quoted prices swing wider than actual sale prices. The only way to be sure that sale prices have not actually firmed up (or have a reason to firm up) is to check registration numbers and see if a rough comparison can be made with for-sale inventory.
This is easily done in the US and other developed countries (which is why they are called developed), but much harder here.
If prices are being talked up despite volumes not going up much, you cn safely assume this is only a (desperate) gamble by builders.
In any case, 2010 is likely to be a hostile year for builders and we will see how they can handle it without bringing down prices!;)
- Originally Posted by ahirmanA lot of people are trying to link falling realty prices across the world specially in US to India. Its really s to Oranges.
Real estate prices never go down in India and never will. The reason is we dont look at realty as a financial instrument with all other available investment options. Also we are more emotional with it. Demands has been always high and supply low and seller knows that wait and watch pays.
Prices will stagnate at the most before climbing up steadily again but the kind of correction we see in US market is something which is never going to happen in India.
How much long will stagnate and with what rate they will climb back will depend on the location you are in and it differs widely. For Individual sellers its wait and watch time and for builders its time to throw in some freebies to attract crowd.
I somehow disagree with you. You are missing a very important point. The point is that in the last 60 years the propoery was developed by goverment agencies & there were very few private developers. So the supply of houses was very restrictive as it was in hands of goverment agencies. But now its different. Private developors have come in market & we are aheading towards an oversupply zone in Housing. This is the phase which India has never seen & hence till now prices of property have now gone down. Its similar to telecom/car market wherein BSNL/MTNL/ Ambessdor/Fiat were the only choice available to consumer but when private players entered the market then you see what has happened to the prices. Prices have been going down & down.
I request all of you to please be careful while investing your hard owned money because real estate market is such an inefficient market as prices are goverend by speculation more that the real demand supply situation.CommentQuote0Flag
- I'm not an expert but I can share my experience.
In bangalore, the RE sales are still very dull and it looks like buyers more stub born than what I had thought. some of the best located sites/plotsthat I'm interested and inquired 9 months ago are still sitting in the market. I get calls from diffrent brokers for the same site at different times. Initially they say that market is going up and this is the last chance to buy at this price. When I rejected their offer outrigtly, they go away and call back after 1-2 months saying the the sellet is willing to negotiate for the better price. I have stopped looking for properties from past 3 months and I have no regrets as most of the properties that I saw are still not sold indicating the fact that the prices they quoted were too high and there are less number of fools this time to put in huge amount for someone's big profit. BTW my budget was from 60-70L which is slightly at the higer point of the mid range market in bangalore.CommentQuote0Flag
- The freefall in commercial property prices may be nearing an end.And while improvement is likely a year or two away, the pace of declines may be less dramatic than it was in 2008 and 2009. While it might not seem like good news, the latest figures on commercial property prices suggest that the real estate market is stabilizingCommentQuote0Flag