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National: Property trends in the last quarter

As monetary transactions done with respect to property deals involve a significant sum of one’s income, it becomes extremely necessary to be aware. Knowledge of the market price, market trend, etc., is extremely important. In today’s day and age of staunch capitalism where every person from the service industry seems to be a lobbyist, the presence of some objective knowledge unmarked by subjective ulterior motives will be helpful.

 

And so, researchers at Favista Real Estate, a professional brokerage wish to share some findings which present some bare objective facts about the realty market in the last quarter. Researchers calculated favourable property transactions that took place in the last quarter by taking into consideration, the average price range of properties in which maximum number of properties found buyers.

 

Sale of property

As per the research, Ghaziabad saw a 5% increase in the sale of property. This was followed by Mumbai, Hyderabad, Pune and Delhi. Here the increase of sale of property was between 3 to 4 percent. Cities where an increase in sale of property was witnessed include Kolkata, Chennai and Noida with a hike of nearly one percent. Stable property sales were witnessed in Ahmedabad. In Bangalore, stability was observed till October 2012 and then the sale of property prices dropped by nearly 2 percent.

 

 

What do investors prefer?

Nearly 65 percent of investors in most cities who bought property in the last quarter, bought flats in multi storeyed structures. Exception was witnessed in Hyderabad and Bangalore where not only were property deals made to acquire villa and plotted development but there was more demand for the same. Across India there is higher demand for 2BHK flats. However, in Mumbai and Gurgaon, the demand is more for 1BHK and 3BHK apartments.

 

Budget Preferences:

Obviously no one would prefer to spend more money if something can be bought at a relatively cheap price. However, in the real estate market, the amount of money investors are willing to pay and do pay to acquire a property is of much importance as such an amount and property available at such an amount help determine the demand in the market. Nearly 24 percent of demand was for residential property which can be bought within a price range of Rs 30Lakh to Rs 50lakh. The demand for affordable houses which fall within the price range of up to Rs20Lakh was about 16 percent.

 

These facts mentioned above refer to the analysis of property sales across Indian cities in the previous quarter. Considering that ‘no one baths in the same river twice’, the trend could change. Having said that, history does have a way of repeating itself. And it is based on the understanding of demand and supply that economics functions, this information is going to be helpful to developers and investors alike.

About Sanjit Sharma

Sr. Online Marketing Executive with Favista Real Estate Pvt. Ltd.
This entry was posted in Budget 2013, Gurgaon, Investment, Mumbai, NCR Delhi, Newsletter, NOIDA and tagged , , . Bookmark the permalink.

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