Is it time to buy that house?

The #propertysector has been battling a downturn for the last 3-4 years. Things have now, however, hit a critical point due to a #liquiditycrunch hitting shadow banks that are big lenders to both developers and property buyers. The number of indirect job losses from related industries like #cement and #steel may be even higher. Slowing sales are piling on the pain, with #buyers staying away because they increasingly can't afford properties. https://lnkd.in/f_PNSaN

#clientnews Congestion pricing, good public transit can be long-term solutions for affordable housing: Anubhav Gupta He believes that “The affordability of housing is a perennial problem in most tier 1 metros across the world. India is no different. Land costs are exorbitant, development charges on the rise and the industry remains susceptible to cyclical market downturns.” Anubhav Gupta, FRICS, Glynda Alves, #ETPanache #affordablehomes #homevalue #realestate #mumbai #property #investors #investments #land Read more about the article on the link given below

" Do you think the demand for housing in the City of Mumbai matches the construction rate in the city?" This was a survey question in the Mumbai Mirror today. I feel the Demand is definitely there , but for affordable housing Costing 25 to 30 lacs, for the First time Buyers Service class people. But Mumbai Builders are mindlessly constructing premium projects , which cost exorbitant and unaffordable for the first time buyer service class people. If we put 80:20 Ratio, 80% demand is for affordable housing and 20% for premium housing. The Builders in Mumbai, Navi Mumbai and Thane, has to understand the shift. and Plan their projects accordingly.

INDIA INC MUST SHOW PATRIOTISM .....TO REVIVE ECONOMY 2 True, there are other freebies accompanying this, but even on a car that costs just Rs 3 lakh, it doesn’t add up to much. Developers, such as DLF and Sobha, are unwilling to drop prices even by a paise because, apparently, these are pretty low. “Prices are already low. If the economy gets a boost, it will help the real estate sector as well,” Rajeev Talwar, CEO, DLF said in Business Standard. In other words, they are not going to do their bit. What they need to keep in mind is affordability has worsened to a four-year low. RBI data shows, house price-to-income ratio in India increased in the last four years, from 56.1 in the 2015 March quarter to 61.5 in the corresponding period in 2019. Not surprisingly, close to three lakh units remained unsold in the Mumbai Metropolitan Region at the end of July. According to Knight Frank, the rise in residential prices in the last four years in the top eight cities has been lower than retail inflation. Given how prices were highly inflated to begin with—due to land bought at very high costs, and speculative buying encouraged by builders—prices should not have gone up in the first place.