Rising property prices have reduced the demand
Considering the cost of the properties in India it seems that the demand for the properties in India is increasing. But the scenario is opposite to what it looks like.
The costs of properties are raising and the demand has fallen in all major cities in India.
The main reasons of falling demand of properties are due to the wait and watch policy adopted by most of the potential home buyers.
In a report it is said that on average the demand in India’s six main markets has declined around 40 per cent in the past one year. New project launches have seen a drop of nearly 50 per cent.
Developers also launch projects at prices higher than that in the locality. An artificial scarcity is also being created by the builders to raise the cost of the properties.
The current absorption rate for new projects is 10 per cent per quarter, which means it takes around three years for a project to be sold out.
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Demand for Residential Properties in India is Still Stagnant
Source: Business Today
absorption rate, cost of the properties., demand of properties in India, new projects, Properties in India, Real estate in India
[...] Rising property prices have reduced the demand [...]
[...] Rising property prices have reduced the demand [...]
[...] Rising property prices have reduced the demand [...]
[...] Rising property prices have reduced the demand [...]
[...] Rising property prices have reduced the demand [...]
[...] Rising property prices have reduced the demand [...]