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Buying a property?

To buy a property, It is always a good time
buying a property

It is not or it was never a bad time for Real Estate industry. Definitely there is slow down in the whole market. It reflects in all the markets whether in share market or commodity market or in real estate market. But that does not mean that Real Estate is down, so the cost will be dramatically dropped. One have to understand that global market is experiencing melt down. Especially, China market went through a hard time. Some turmoil may definitely be felt in domestic market in India. Still India is very much in stable condition compared to any other global market. So in real estate market, buying a property is never a bad decision.

WHY IS THE MARKET STAGNANT?

If you see the world market from 2008 onward, there are several incidents which affect the whole economy of the world. In this situation, economy has gone down, business is low and related to business job market has gone down. So, here the problems come in the picture. The buying capacity is getting lower. So this is why, less units are getting sold. It may be less but it is not nil. Builders are giving better discounts and price has been dropped at least 10-15%. Those who have already bought a property in last three years may not see the appreciation yet. But for an investment purpose, it is always better to stay invested for long period to see a good appreciation.

MYTH & FACT

There is a myth which is in everybody’s mind at this time and that is no property is getting sold, so it is better to wait for buying a property after market revive. Or if anyone is interested to buy a property, asking for a huge discounts thinking of the same. The real fact is, selling a property was never very tough if the location is good. If you are thinking of a good property from a good developer in a good location, and you are thinking of a right time to come, then it is sure that you are actually loosing time and you may not get your desired property.

Kolkata property market is not driven by investors, so the price does not move very fast. It is an end user based market, so it will go up slowly. If anyone wants to buy a property for own use, there is no good time or bad time for buying. Those who understand this are wise enough to waste no time but to take decision quickly.

DEMAND – SUPPLY

The demand and supply drive the market. Yes, in the current situation supply is more than the demand, so the market is stagnant. But as we discussed earlier, there is always demand for a good property in a good location. One may come across, there are several projects which has extreme demand. If you really want to buy a property in any one of these projects, you should not wait or ask for a less price. If the project is already hit, there will be no discounts on that.

You can easily understand at the time of negotiations. If you are getting a huge discounts and benefits, you can be sure, the demand is marginally less in the project where as if there is no discounts, that means the project is getting sold as hot cake. No time waste; decide quickly to invest in those projects.

To conclude, never see the market situation when you are thinking of buying a property. It is always a good time to buy. Instead, you can ask yourself whether the time is perfect for you to invest your money and buy a property.

Author – Arnab Ray

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