There are no signs of improvement for home sales. The sluggishness has affected home sales across the country.
Various freebies and discounts are offered by the developers. Though these were expected to improve the sentiments of home buyers, weak home sales prove that these offers have no impact on the sluggish realty market. Continue reading →
Pointing to the falling property prices, global property consultancy firm CBRE reports that the residential market is on the verge of a price-correction. The property consultancy firm added that the builders are pressured to cut down the prices by the weak home-sales.
Residential Market will soon experience a price correction.
Mr. Anshuman Magazine, CBRE’s chairman & MD for South Asia, pointing the fallen property prices in Mumbai and other major cities of India, said that the housing segment will soon experience a price-correction. He said that if the lower sentiment remains the same in the residential market, it can be sure that there is a bigger flow of black money.
Compared to the second – quarter prices, prices for the newly launched homes in the third quarter are down by 2 to 5% in Mumbai, reported CBRE. Substantiating their report, another property consultancy reported that the property prices in Mumbai have fallen. According to the report of Liases Foras, the prices in Mumbai have fallen by 1%. Continue reading →