Residential Realty Market Overview: Colliers Report
The Colliers International report crunched out some extremely valuable numbers, while providing great insights on the residential property market. India grew at 4.7% in the 4th quarter, 2013 in comparison to 4.8% recorded in the previous quarter. The business confidence levels (BCI), however, rose from 45.7 in the previous quarter to 54.9 during the 4th quarter.
Overall, the Indian economy looks positive, as projected by the International Monetary Fund (IMF).
Except in cities like Bengaluru, Pune, and Chennai, where many new project launches were observed, there was a sharp decline in project launches across the cities in India. Developers have still been flashing buyback schemes and possession-linked payment plans to wipe the wrinkles off buyers’ foreheads.
According to the Colliers view, there’s been a rise in the number of enquiries for residential units across multiple cities. Colliers predicts a rise in residential property sales in the coming quarter. In addition, capital values are set to remain unwavering in the near future.
Source: Moneycontrol
Colliers International report, IMF, International Monetary Fund, Real estate in India, Residential realty market
