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
Wednesday, December 31, 2008
Gulf Investors Can boost India's Property Market
The real estate sector in India is set to grow by 30% and be worth $16 billion by 2010 despite the global economic downturn, it is claimed.
Middle East property investors and developers are likely to be the saviours of the property industry which is currently facing financial problems due to high interest rates and tight lending conditions.
They recognise that the economic climate may be difficult but they also recognise that they can benfit from lower land prices, lower material and labour costs and a market where demand is unlikely to disappear.
'The internal demand for commercial and residential real estate in India is undeniable. But providing finance is in place many developments are likely to be approaching completion after the downturn has bottomed out,' said Graham Wood, exhibition director for next month's Cityscape India.
His company's latest research predicts a 30% growth rate for India. It is also estimated that India is currently facing a shortage of 21 million homes. Wood also points out that more and more Gulf developers are interested in India.
'The demand for affordable housing is immense and potentially the long term returns for investors and developers are colossal,' he added.
Dubai-based Limitless is confident about the long term prospects of India's real estate sector and will be showcasing key Indian projects including a 4,000 hectare mixed use development near Bangalore with accommodation for 750,000.
Dubai Properties recently confirmed that the company hopes to expand its development projects into India. And Dubai-based real estate developer Majid Al Futtaim has also announced it is investigating India as a possible region for investment and development.
Younis Al Mulla, MAL business development officer, said that the company was looking to enter a joint venture with a local firm to help it build a mixture of residential and commercial real estate in the country.
Middle East property investors and developers are likely to be the saviours of the property industry which is currently facing financial problems due to high interest rates and tight lending conditions.
They recognise that the economic climate may be difficult but they also recognise that they can benfit from lower land prices, lower material and labour costs and a market where demand is unlikely to disappear.
'The internal demand for commercial and residential real estate in India is undeniable. But providing finance is in place many developments are likely to be approaching completion after the downturn has bottomed out,' said Graham Wood, exhibition director for next month's Cityscape India.
His company's latest research predicts a 30% growth rate for India. It is also estimated that India is currently facing a shortage of 21 million homes. Wood also points out that more and more Gulf developers are interested in India.
'The demand for affordable housing is immense and potentially the long term returns for investors and developers are colossal,' he added.
Dubai-based Limitless is confident about the long term prospects of India's real estate sector and will be showcasing key Indian projects including a 4,000 hectare mixed use development near Bangalore with accommodation for 750,000.
Dubai Properties recently confirmed that the company hopes to expand its development projects into India. And Dubai-based real estate developer Majid Al Futtaim has also announced it is investigating India as a possible region for investment and development.
Younis Al Mulla, MAL business development officer, said that the company was looking to enter a joint venture with a local firm to help it build a mixture of residential and commercial real estate in the country.
Monday, October 20, 2008
The Prices of Mumbai Property
The real estate/property prices of the commercial capital of India, Mumbai are undergoing a stable increasing trend. The reasons which have impacted the steady upward trend are still the same, starting from the stock market rally to the good investment results, to the stable government and to an overall optimistic and constructive economic scenario.
Like most of the developed countries most of the builders of Mumbai today are giving a lot of quality and value added state of the art services like swimming pools, health clubs and gardens in their projects. The only negative factor today is that there is short stock available with well famed and established property builders in Mumbai. There are few suburban areas where maximum sales are recorded in the past couple of months. Chembur, Wadala, Mulund, Goregaon East, Kandivali East, Powai, Vashi and Thane are some of them. In general the markets in Mumbai look pretty firm; the builders who have under construction projects in good locations with good demand are still mounting their prices as the ratio of demand and supply is always out of balance in Mumbai because of the continuous influx of masses from all over India. Property prices in other cities of India are significantly cheaper than Mumbai because of the lack of balance in the demand and supply of real estate.
Like most of the developed countries most of the builders of Mumbai today are giving a lot of quality and value added state of the art services like swimming pools, health clubs and gardens in their projects. The only negative factor today is that there is short stock available with well famed and established property builders in Mumbai. There are few suburban areas where maximum sales are recorded in the past couple of months. Chembur, Wadala, Mulund, Goregaon East, Kandivali East, Powai, Vashi and Thane are some of them. In general the markets in Mumbai look pretty firm; the builders who have under construction projects in good locations with good demand are still mounting their prices as the ratio of demand and supply is always out of balance in Mumbai because of the continuous influx of masses from all over India. Property prices in other cities of India are significantly cheaper than Mumbai because of the lack of balance in the demand and supply of real estate.
Tuesday, September 9, 2008
Opportunities of Investment in Mumbai Property
The prices of Mumbai have seen an upward growth for years. The causes which influence the prices are the same, beginning the stock market relative stability, the stable government and an overall optimistic economic state of affairs.
Most of the real estate developers are giving many quality and value added services like pools, gymnasium and lawns in their projects. But one of the negative factor is that there is short ready stock with reputable estate developers in Mumbai.Wadala, Chembur,Goregaon East , Mulund, Powai, Thane and Vashi are some of the places in which record sale is recorded in past few months. Overall the property market in Mumbai is stable; the builders who have under construction projects in prime locations with good demand are still increasing their prices every 2 or 4 months. The prices of property in other cities of India are comparatively very cheap as compare to Mumbai.
Rates of Residential and commercial property in Navi Mumbai have ascended since the Special Economic Zone (SEZ) and the Greenfield airport project in Panvel were commenced. It would be soon a city living in Mumbai's shadow, with its fair share of premium commercial and residential properties, multiplexes, glitzy malls, luxury hotels and big commercial spaces.
As the high tech boom spreads across India, more Indians are interested in buying homes; Mumbai properties attract more and more international and local investors. The real estate surge and boom in development activities in Mumbai have led to a rise in investment in residential and commercial sectors.
Most of the real estate developers are giving many quality and value added services like pools, gymnasium and lawns in their projects. But one of the negative factor is that there is short ready stock with reputable estate developers in Mumbai.Wadala, Chembur,Goregaon East , Mulund, Powai, Thane and Vashi are some of the places in which record sale is recorded in past few months. Overall the property market in Mumbai is stable; the builders who have under construction projects in prime locations with good demand are still increasing their prices every 2 or 4 months. The prices of property in other cities of India are comparatively very cheap as compare to Mumbai.
Rates of Residential and commercial property in Navi Mumbai have ascended since the Special Economic Zone (SEZ) and the Greenfield airport project in Panvel were commenced. It would be soon a city living in Mumbai's shadow, with its fair share of premium commercial and residential properties, multiplexes, glitzy malls, luxury hotels and big commercial spaces.
As the high tech boom spreads across India, more Indians are interested in buying homes; Mumbai properties attract more and more international and local investors. The real estate surge and boom in development activities in Mumbai have led to a rise in investment in residential and commercial sectors.
Wednesday, May 14, 2008
Mumbai Property Market
One of world’s most populous country, India, whose economy has seen speedy upward movement over the last few decades, is the largest South Asian country and has emerged as the region’s major economic power. One of the biggest contributors to the Indian economy has been its IT sector, expansion of which has resulted in domestic industrial growth as more and more multinational companies and services industries started to invest in India.
Due to such a rapid economic growth the demand for property in Mumbai is even higher as it is the business capital of country. This has made the job very difficult for those who are looking to rent or buy residential or commercial properties in Mumbai. In such scenario many real estate agencies are helping people in buying property in Mumbai. These agencies offer services to their customers together with buying, selling, renting-in and renting-out. If you are looking to buy residential properties in Mumbai or buy commercial properties in Mumbai then simply visit to the website of any of such real estate agencies like Better Homes India and you can find the best deal for you.
The unstoppable upsurge in Mumbai’s population is one factor that ensures heavy returns on Mumbai property investment. Lack of space for new property development from Juhu Beach to South Mumbai, has made the property prices in this area to shoot skywards. Additionally, property prices in posh areas like, Juhu, Bandra are to a great extent unaffordable to middle class. That’s why the market of real estate in Mumbai plans to develop several new projects in the suburbs of the city keeping in mind the affordability of the middle class.
These factors kept in mind, it can easily be asserted that the property prices here will continue to witness an upward trend. Finding a property in this situation can be a taxing task and a real estate consultant like Better Homes can be of great help. Mumbai’s property agencies offer a wide range of services to the customers together with buying, selling, renting-in and renting-out. One thing is for sure that you can earn massive profit in future by investing in Mumbai real estate market.
Due to such a rapid economic growth the demand for property in Mumbai is even higher as it is the business capital of country. This has made the job very difficult for those who are looking to rent or buy residential or commercial properties in Mumbai. In such scenario many real estate agencies are helping people in buying property in Mumbai. These agencies offer services to their customers together with buying, selling, renting-in and renting-out. If you are looking to buy residential properties in Mumbai or buy commercial properties in Mumbai then simply visit to the website of any of such real estate agencies like Better Homes India and you can find the best deal for you.
The unstoppable upsurge in Mumbai’s population is one factor that ensures heavy returns on Mumbai property investment. Lack of space for new property development from Juhu Beach to South Mumbai, has made the property prices in this area to shoot skywards. Additionally, property prices in posh areas like, Juhu, Bandra are to a great extent unaffordable to middle class. That’s why the market of real estate in Mumbai plans to develop several new projects in the suburbs of the city keeping in mind the affordability of the middle class.
These factors kept in mind, it can easily be asserted that the property prices here will continue to witness an upward trend. Finding a property in this situation can be a taxing task and a real estate consultant like Better Homes can be of great help. Mumbai’s property agencies offer a wide range of services to the customers together with buying, selling, renting-in and renting-out. One thing is for sure that you can earn massive profit in future by investing in Mumbai real estate market.
Thursday, April 3, 2008
Mumbai Commercial Properties
The Mumbai commercial property market seems to be well prepared to face the constantly growing demand as it is offering and determined to offer better infrastructure and world class facilities at reasonably cheaper price. However, major works in this regard are still to be done. In current times, the support given by the Indian authorities to overseas direct investment, foreign investors are increasingly paying consideration toward Mumbai market, thus generating vast demand for office and commercial spaces
Sunday, September 23, 2007
Rents in Mumbai
House rent in Mumbai have been reacting with the situation. However, there are always a chances of correction as the markets swelter, just the way it happened in late 90s when the rental values were cut down by 10-15 per cent.
However, the boom in the services sector has enabled corporate executives to take advantage of houses at these rates, as well. People are looking to stay closer to their offices to keep away from exertion of distant traveling and are ready to pay a bit more.
However, the boom in the services sector has enabled corporate executives to take advantage of houses at these rates, as well. People are looking to stay closer to their offices to keep away from exertion of distant traveling and are ready to pay a bit more.
Herein the demand for luxury apartments for elite class in Mumbai on rent is also increasing considerably.
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