The last year was one of disruptions: GST, RERA and the push for affordable housing led to a considerable correction in the real estate sector.
“There has been a dearth in project launches which could have a negative effect on the supply of real estate properties. The increasing demand, on the other hand, could mean that prices might increase in the future, due to the mismatch in demand and supply,” says Jaxay Shah of Credai. This leaves buyers with the fundamental question. Will 2019 be a turnaround year?
“There is a shortage of two crore units in the seven metros besides four crore in tier-2, -3 and -4 cities. So one thing is established— there is demand,”
Many feel 2019 will be the year of consolidation and demand picking up. “Fence-sitters have realised that prices have bottomed out. 2019 is the year real estate will look better with greater compliances and transparency.
Q3 of this year already saw sales kick-off again and feel from Q1 of FY2019 we will see a turnaround in sales. This consolidation will continue till 2020. From low-turnover, high-margin, we will become high turnover, low-margin”.
It will be the season to buy.
“Even as investors still look at market cautiously, end users will continue to benefit,”
– Source Credit: Economic Times.
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