The real estate market was a bit unstable in 2015, which made the buyers skeptical about buying and investing in properties. As a result the builders were also in a dilemma about launching new projects as they were stuck with the sale of ongoing ones.
In 2016, due to certain favourable developments, the Indian real estate scenario is in for some healthy growth. The market is gaining momentum and gearing up for the future.
Let’s analyse what the future holds for the property market in India.
A Look Into the Future
GDP growth is expected to gradually increase by 6.5% gradually. One of the main reasons for this is the increase in the job prospects in the corporate sector. This will obviously increase the demand for commercial properties. A chain reaction will follow, leading to an increase in the demand for residential projects.
This is where the builders come in. They need to build properties of the right size and offer the right price. If they come up with more affordable houses it will make way for an easy sale, since most property buyers in India look for a budget home. A recent study has revealed that there is always more demand for middle and lower income housing than the luxury sector when it comes to real estate property.
Key Responsible Factors
Fitch Ratings have revealed that the property market will be resilient in 2016, as there will be an increase in the demand for residential and commercial properties. The end of 2015 has witnessed more people interested in investing in real estate properties due to the decrease in the interest rate of home loans.
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