According to JLL, developers would become more serious about right-sizing and right-pricing their offerings. smaller, yet better-designed and more efficient homes will define the residential real estate market in 2015, and selective corrections in some of the over-priced cities will help bring about faster sales for stop flowing supply of larger configurations.
If property prices staying stable and good deals being offered by developers in order to clear their inventory, once again sitting buyers be further encouraged to press the buy button. Developers are now largely focusing on affordable homes, as a result this would help in bridging the existing wide gap between demand and supply of affordable homes.
As per JLL Chairman and Country Head Anuj Puri, 2015 will see home buyers benefiting from decreased lending rates, increased developer-focus on affordable homes, largely stable prices, and better job and income prospects.
You are right Sukhpreet, Supply, however, is estimated to decrease marginally to 2.18 lakh units this year from 2.2 lakh units in 2014. Developers still have unsold inventories of 27 months at the end of this year as compared to 28 months in 2014-end.
Hi,
I have seen that housing sales fell to 1.75 lakh units in the primary markets of 7 major cities in 2014 as compared to nearly 2 lakh units in the previous year. These 7 cities are Delhi-NCR, Mumbai, Chennai, Kolkata, Bengaluru, Hyderabad and Pune.