Are Real Estate prices going to fall?
While there are a lot of viewpoints which argue that the Residential Real Estate Pricing will drop OR that it won’t, here’s a quick snapshot of reasons for both to happen, depending on not just market forces, but also Government Intervention & Covid-19 vaccine development.
While the situation is likely to swing wildly, depending on when vaccines and medicines for Covid-19 are available in a large scale, the immediate to mid-term impact is a clear “Buyer’s market”.
While the Builders are willing to negotiate more, the Banks are willing to lend at lower rates and the Governments (both Centre & State) are making it easier with reduced Guidance values (for Registering the property), increase IT exemptions on home loans, PMAY scheme for first time home buyer and other end-user oriented measures, there has never been a better time to clinch a deal!