When we discuss of the real estate market, deliberately or not we use nationwide statistics to shape the desired opinion about the property market. But this is a reality that the real estate market is based on local, and, in many cases, micro-level economies.
It is true that, certain factors such as interest rates affect all the markets, but there is no broad barometer to measure the entire housing and property industry in India. Average prices, average new homes sold and average homes built across the country has little relevance to any precise locality. So while calculations, economic and statistical factors are pertinent, so is common sense - take a look around and see what's real scenario.
Talk to real estate agents, investment advisers and even institutional in that specific area for a better picture of what is going on. Don't look at the broad nationwide, statewide or even citywide statistics. Only you concerned with the average prices in the particular neighborhoods in which you buy a house, the average time on the market.
Tuesday, January 27, 2009
Subscribe to:
Posts (Atom)