BrixBlog Moderator says: A property report by financial services provider Edelweiss expects real estate prices to decline by around 60% over the next five to six years from its peak in the first quarter of 2008. “Property prices in India increased sharply over the past 6-7 years, rising two and a half times over 2001 prices. We expect a price correction of 58% in real terms from the peak,” Edelweiss said in its report.
Market estimates show that property prices have stagnated, as compared to the values prevalent a year ago. And this too, has not stimulated much demand in the market. On the contrary the market has become stagnant. Buying and selling is happening only in desperate cases. Otherwise buyers are holding on to their cash and sellers are holding on to prices.
Does further correction in property prices mean good time for buyers? Or, does it indicate further stagnation in the market.
Please answer in the 'comments' section.
April 7, 2009
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