Expect real estate prices to increase: Report

Bangaloreans looking to buy property can expect prices to increase in the coming four months, a survey by Indian Institute of Management\'s Century Real Estate Research Initiative (CRERI) has revealed.

Published: 26th October 2013 11:32 AM  |   Last Updated: 26th October 2013 11:32 AM   |  A+A-

Bangaloreans looking to buy property can expect prices to increase in the coming four months, a survey by Indian Institute of Management's Century Real Estate Research Initiative (CRERI) has revealed.

The report looks at measuring the sentiments of real estate purchasers across the country.

Not surprisingly, this sentiment in Bangalore runs contrary to the other cities surveyed where consumers expect prices to fall. Other reports have shown an increase in purchases in 2013 with around 28,000 new units being launched in the first six months of the year.

The research also notes that the effect of the RBI's recent measures to unwind liquidity tightening has had a negligible effect on home loan rates.

It predicts that government efforts to ease Foreign Direct Investment norms in real estate sector would help attract cash flows.

"Bangalore is the only city with a marginally positive sentiment which is due to steady demand from the IT sector and the fact that developers have been conscious not to increase prices," the report states.

The findings also show that most prospective home buyers in the country are between 25 to 39 years of age but again the city beats the trend as it has the most number of older buyers.

According to CRERI, North and North east areas of the city are the most positive in terms of consumer sentiment.

South Bangalore is a close third. Customers in Bangalore also exhibit positive sentiment irrespective of the type of property they are buying.

The report is based on surveys of over 3000 buyers which will be surveyed every quarter.

Eight cities were covered in the survey including Mumbai, Delhi, Hyderabad, Pune, Noida, Gurgaon, Bangalore and Chennai. Online portal Magicbricks.com also contributed to the report.

Stay up to date on all the latest Bengaluru news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp