Real estate flourishes only in cities which generate higher numbers of job opportunities. In these areas real estate price trends remain more dynamic. Other factors remain unable to bring any favor to the real estate price trends.
Real estate price trends change according to the construction costs and inflation. However the dramatic shifts of prices is more visible in cities which produce higher number of job opportunities.
South Indian cities like Bangalore and Chennai, other cities like Hyderabad and Pune appear to be ahead of other bigger cities in creating job opportunities. With this improved and leading position in creating job opportunities, these cities witness better real estate growth in comparison to Delhi and Mumbai.
Jones Lang LaSalle India’s CEO Om Ahuja reported that if the situation goes on like this these cities will overtake Mumbai and Delhi. He also pointed to the growth of Gurgaon as well. Continue reading