Property prices poised to slide down further?

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.

How much does 2-BHK flat cost in Pune?

BrixBlog Moderator says:- User queries are becoming increasingly popular with our surfers. This time we present Manish Jhaveri’s query. He wants to know the estimated budget to buy a 2 BHK flat in Pune. Any suggestions for Manish? Type your suggestions in the ‘comments’ section. Get going here…

Manish Jhaveri’s query: 

I am IT professional. I want to buy a 2 BHK flat in Bibwewadi, Pune. How much would it cost me? What should be my estimated budget? Can anybody guide me?

Property rates to go up in Bangalore. Will you still buy property there?

Magicbricks Moderator says – A recent news report says that property developers’ association in Bangalore has decided to increase the rates of all projects by Rs75-500 per sq ft. This decision was announced by Confederation of Real Estate Developers’ Associations of India (CREDAI-Karnataka chapter). Rising prices of steel and construction material has been cited as the main reason for this hike.

Will you still buy property there? Will this impact your property buying decision?

Send in your answers in the comments section. Else, send them to editor@magicbricks.com