What Not to Expect From Real Estate This Year
May 22, 2017 Real Estate News
2017 promises to an eventful year for the real estate sector. The government, developers, banks, all have joined hands to help revive the real estate market by reducing the home loan rates, bringing price corrections and correction in taxes. For the past few years, the sales in the real estate sector have slowed down, causing the pile up of unsold inventory by the developers. These measures are expected to generate more interest in the buyers, increasing the sales in the real estate market. With RERA, GST, REIT in sight, these looks even more promising.
Here’s the list of things of what a buyer should not expect from the real estate market this year:
1. Discounts:
Though some developers have already corrected the prices of some properties, it is unlikely that they will reduce the prices beyond a certain limit. The developers are already trying to comply and adjust with the rules laid down by the Real Estate Regulation and Development Act (RERA) 2016, it will be futile to expect them to reduce the prices steeply and provide benefits.
2. An unexpected reduction in prices:
2017 is already promising to be a good year for the real estate sector. Though right now there are some confusion and indecisions which will settle down once the 2017 budget is announced. RERA and the other moves made by the government will ease the buying process of the properties. But what a buyer should not expect is the dramatic decrease in the prices. The prices in the real estate market will go down and settle accordingly.
3. Higher profits:
This may not be the year where a seller can get higher profits from selling the property. The scenario might have been different but now with demonetization and the decrease in the prices of the property, it won’t be wise to assume higher returns in selling the property.
4. Free fall on prices:
Even though demonetization has led to decrease in the prices of properties, it will be foolish to assume that the seller will sell the property at lower prices. They might wait for the prices to rise again before selling it. As for the buyer’s point of view, the prices of the property will remain stable.
According to experts, it is a great time for the investors and first time buyers to buy the property of their choice without burning a huge hole in the pocket.
Here’s the list of things of what a buyer should not expect from the real estate market this year:
1. Discounts:
Though some developers have already corrected the prices of some properties, it is unlikely that they will reduce the prices beyond a certain limit. The developers are already trying to comply and adjust with the rules laid down by the Real Estate Regulation and Development Act (RERA) 2016, it will be futile to expect them to reduce the prices steeply and provide benefits.
2. An unexpected reduction in prices:
2017 is already promising to be a good year for the real estate sector. Though right now there are some confusion and indecisions which will settle down once the 2017 budget is announced. RERA and the other moves made by the government will ease the buying process of the properties. But what a buyer should not expect is the dramatic decrease in the prices. The prices in the real estate market will go down and settle accordingly.
3. Higher profits:
This may not be the year where a seller can get higher profits from selling the property. The scenario might have been different but now with demonetization and the decrease in the prices of the property, it won’t be wise to assume higher returns in selling the property.
4. Free fall on prices:
Even though demonetization has led to decrease in the prices of properties, it will be foolish to assume that the seller will sell the property at lower prices. They might wait for the prices to rise again before selling it. As for the buyer’s point of view, the prices of the property will remain stable.
According to experts, it is a great time for the investors and first time buyers to buy the property of their choice without burning a huge hole in the pocket.
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