Market revival expected by home buyers and developers
The home buyers and developers are hoping for a market revival. While the demand for residential units has remained subdued over the last six months due to several reasons such as high interest rates, inflation, depreciating value of the rupee and overall slow economic environment, the new government at the Centre and the recent announcements in the Budget are expected to result in increased activity in the sector in the forthcoming months.
Demand for housing across cities remained subdued in the first half of this year because of high pricing and lending rates. Homebuyers focused on the secondary and emerging micro- markets and leading cities. Residential districts across Delhi NCR, Hyderabad and Kolkata witnessed stagnation in sales transactions but growth in commercial activity and growing influx of IT professionals pushed the housing demand in Bangalore and Chennai, says a report titled India Residential View for the first half of 2014 by CBRE.
Against the backdrop of a stable government at the Centre and expectations of faster decision-making and positive reforms, activity in the housing market across leading cities is likely to witness improvement in the forthcoming quarters as said by Anshuman Magazine, chairman and managing director, CBRE South Asia Pvt Ltd.
Source: Hindustan Times
Anshuman Magazine, Budget, CBRE South Asia Pvt. Ltd, demand for residential properties, Demand for residential real estate, home buyers and developers, New government
