Home Buyers Please Note and Seize the Opportunity: Prices likely to stay muted for the next 6 months
It is generally believed that prices of residential houses may indicate upward surge due to greater demand and good appreciation of the property. However, according to a recent survey conducted b Knight Frank consultant for FICCI, housing sales are predicted to remain stable or improve in next 6 months while price appreciation is expected to be muted. After some slow down in the real estate business lasting about previous 6 quarters, the prospects of better sales in the housing sector is quite bright. This trend is an affirmation and faith of the stakeholders for better future. The report credits the real estate with positive transaction in the preceding six months and the projections are also positive.
The demand for office space is increasing manifold. The residential segment of the real estate which was experiencing turbulent time for the last three years has also made a good turnabout in terms of recovering from the shop. The consultant also observed that there is a significant improvement in the sentiments for the residential sector. This is substantiated by the number of respondents with a positive outlook for this sector moving up substantially in 2016 especially in the sales volume.
The report further credits on the basis of the feedback, more than 95% respondents that the sales volume will either be at the same level or improve in the next 6 months. It is also mentioned that despite this good showing so far as sales are concerned the stakeholders are of the view that the residential prices will remain muted. According to the report that more than 60% of the respondents participating in the survey consider that the appreciation in residential price will continue to be the same or even worse by the end of the year.
Thus, the report of Knight Frank released by FICCI project a mixed scenario of cheers and some concerns. For more visit irxlive.com
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