BlogSpotTipsBlogSpotTips
  • Home
  • Education
  • Finance
  • Latest Internet News
    • Social Media
    • Software
  • Game
  • Contact Us !
Facebook Twitter Instagram
BlogSpotTipsBlogSpotTips
  • Home
  • Education
  • Finance
  • Latest Internet News
    • Social Media
    • Software
  • Game
  • Contact Us !
Facebook Twitter Instagram
BlogSpotTipsBlogSpotTips
Home»Finance»Home sales dip in major cities: Report
Finance

Home sales dip in major cities: Report

DeepBy DeepFebruary 4, 2016No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

Home sales have fallen during the first half of 2012 in all major cities, including National Capital Region (NCR), Mumbai and Bangalore, as buyers postponed purchases in anticipation of cut in interest rates, global property consultant CBRE said in a report.

“After the strong momentum that residential market attained in 2011, residential sales declined during the first half of 2012 in all leading cities, particularly in NCR (National Capital Region), Mumbai and Bangalore,” CBRE said in a report.

The slowdown in demand was visible in decline in supply addition in the three leading cities, it said.

The first half of 2012 witnessed the addition of more than 19,000 units across 66 projects in NCR, Mumbai and Bangalore.

This is a drop of about 40 per cent when compared to more than 26,000 units launched in 83 projects during the second half of 2011.

Commenting on the findings of the report, CBRE South Asia Chairman and Managing Director Anshuman Magazine said: “The decrease in residential sales can be attributed to dampened consumer sentiment due to high interest rates and weak economy.”

“Both developers and home buyers alike are reeling under inflationary pressures. Home buyers and investors are in a cautionary mode and are deferring purchases in anticipation of interest rates reduction,” he added.

The report said the developers continue to face challenges of high borrowing costs, rising input prices and shrinking profit margins, while investors/buyers had to bear the brunt of high interest rates coupled with delayed product delivery.

On pricing trend, the consultant said the growth remained subdued in the first half of 2012.

“After a steep appreciation during the first half of 2011, growth in residential prices moderated by the end of 2011. Growth remained subdued in the first half of 2012; an increase in unsold inventory and supply pressures led to capital appreciation being range bound across leading cities such Mumbai and Bangalore,” the report said.

On outlook for housing market, CBRE said easing of mortgage rates is likely to improve buyer sentiment and rejuvenate market demand in the coming few months.

[“source -newser”]

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Deep

Related Posts

18 Best Personal Finance Blogs To Follow In India (2022)

January 11, 2022

Get Paid to Write Personal Finance Articles: 21 Outlets to Pitch Now

January 10, 2022

How to Start a Blog That Generates $3817 a Month

January 5, 2022
Recent Post
  • Why asking, “How are you feeling today?” is so important for managers leading through change
  • SEPTEMBER 4TH GOOGLE UPDATE REPORTS ABOUT A MAJOR UPDATE
  • Writing an Article vs. Writing a Blog Post: What’s the Difference?
  • Microsoft 365 Business Premium is the Best Plan for Most Businesses
  • Stocks making the biggest moves midday: Shopify, Etsy, Twitter and more
  • Stocks making the biggest moves premarket: Dick’s Sporting, Express, Wendy’s and more
  • Stellantis CEO warns of electric vehicle battery shortage, followed by lack of raw materials
  • Realme Pad Mini launched in India with 8.7-inch display, price starts at Rs 10,999
Search
  • Home
  • Privacy Policy
  • Contact Us !
© 2023 BlogSpotTips. Designed by BlogSpotTips.

Type above and press Enter to search. Press Esc to cancel.