As we know Real Estate India is now facing sluggish market condition, many investors are shy away from investing in residential property. They didn't want to make a large financial commitment at the time when the market is in the uncertainty position.
But just opposite to this thought, many reputed real estate experts are in the favor of making real estate deals during the slowdown period of the real estate especially if you are end users. Actually in this period demand of the homes are lower than supply, thus inventory is rising and builders are eager to empty their old stock.
Following points help you to understand the slowdown in the real estate market.
Stay Updated: - Always read the financial newspaper and real estate market news. Generally at the time of slowdown, it is a hot topic at everywhere.
Follow the trend: - An unexpected increase in the schemes like PLB, Subvention Plans, Assured Returns, Heavy Discounts and Other freebies are an indication of the sluggish market. Because all these are only for attract the potential buyers.
Take the advice of real estate experts: - as a real estate investor, you must go for real estate consultants’ advice. Actually, sometimes market may look attractive with many attractive deals. Even if, it is good to invest at this phase, but you must be watchful before doing so.
Now we are describing the advantages of sluggish real estate market from the buyers’ point of view!
• In this point of time real estate developers give you the best possible discounted price and as a buyer you can bargain with the price and get heavy discounts.
• Real Estate Developers often set their asking prices lower than the prices of similar project that sold months before. Builders are also often more ready to negotiate on other charges like PLC, Car Parking and club membership etc.
• Real Estate Developers are more likely to accept offers for less than the asking prices, unlike during a booming residential market, where you may have to pay more than the asking price to crack a deal.
• In the sluggish market, buyers have more choices, in that way they have sufficient time and more options to select your dream home under their budget.
• There could be an increase in the number desperate deals, so buyer can take full advantage from these deals.
