Realty Slowdown In 2009

Published: January 6, 2009 at 9:41 AM | Author: Administrator
News Source: INRNews.com

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High interest rates and even higher property prices in 2008 almost killed the householder's biggest dream - to own a house. But with financial downfall has come an opportunity. In 2009, interest rates may fall as the government initiates to rejuvenate the slowing economy. Also, facing an absence of buyers, real estate companies are likely to further cut prices. Investor behaviour too is likely to change. "What happened in 2008 will come as a learning and investors should do their due diligence on any investment plans in any area and go with the long-term investment horizon of three to five years," said Mr. Anshuman Magazine, managing director CB Richard Ellis. While funding is still a challenge for realtors across the country, experts assert that the Indian market will see a comparatively faster revival than other economies.