People prefer ready to move in houses
In the middle of rise in property prices, high rates in house loans and the upsurge in delivery defaults the home buyers have increasingly started to opt for ready to move properties just to be sure about the safety in their investments.
However most of the delays arise due to the adverse market conditions which are resulting in the slowdown of sales, in some of the cases these are deliberate issues by the cash strapped developers. The result of these delays is well visible as there is a huge 44 percent gap in between the committed and the actual supplies within the last five months of the present year.
The large scale delivery defaults have shaken the faith of the home buyers. In spite of the assurances the customers are convinced this have resulted in the slow off take of homes. This also gets reflected in the rising inventory of the unsold homes that have almost risen by around 5 percent especially in the top seven cities during the January and March quarter of 2014.
As the things are going on in the present condition it will take time for the developers around two to half years to dispose the housing stock at the present rate of absorption. In these days the buyers wants to act safe and secure his money even if it costs of paying a hefty premium associated along with the ready to move in properties.
Source: The Tribune
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