Is real estate sluggishness going away soon? Not really
While some real estate experts say market is reviving, others say not anytime soon. If you are looking to buy a house, this is your chance to buy a ready house at discounted prices
For some time now, the buzz has been that real estate prices have bottomed out and going forward they will start moving upwards. However, the buzz—created largely by supply-side stake holders such as real estate developers and brokers—has failed to attract homebuyers. Even the ongoing festive season discounts and offers have not been able to attract any significant number of buyers. Samantak Das, chief economist and national director - research, Knight Frank India said, “There is a significant fall in optimism due to lack of homebuyers in the market. Transactions are even lower than the number of deals that happened during previous year’s festive season, which were itself lower." According to Ficci-Naredco-Knight Frank India Sentiment Index (Q3 2017) released on 7 November, “the future sentiment score has reached its lowest point (55) in Q3 2017—the lowest over the 13 quarters, indicating a significant decline in optimism pertaining to the sector’s future performance."