Slowdown in Real Estate Field is Profitable For The Buyers
Real estate market has been on a slow track from the past few years. Also, there has not been any guaranteed report of destruction of a slowdown in the year 2020. The market is stabilizing a little but gaining back the previous pace property market needs to wait patiently and so does the investors. Negating the anticipation of a booming housing sector for the real time investors, there are other opportunities for the end users which can be a lot beneficial overlooking the slowdown. Purchase Apartments in Ghaziabad and Apartments in Yamuna expressway with lots of facilities.
The slowdown is beneficial to a particular segment and opposite for the other, for those willing to invest in the real estate sector the strike can come out to be a loss. Because of the artificial inflationary prices of properties floating in the market, however, it is vice versa for the segment looking to build or renovate spaces at this time. With the decrease in the real estate in India, the prices of essential commodities used in construction have fallen hugely. Key building materials such as steel, bricks, paints and electrical fittings have depreciated extremely in the past few years.
Cement prices have stabilized a little over the past one year but still are 5% lesser in comparison to the last year prices according to a survey in April 2020. Steel also has depreciated to about 18%. These lessening of prices of these primary commodities utilized in construction have in turn brought the overall cost down to about 6% in about year and a half.
The fees of architects and labor costs are getting high on the other hand but still one gets a huge save cut if investing in building at this time. An estimated saving of about 2 lakh on an investment of 30 lakh which is huge comparing the previous costs and calculations. These market prices are prone to fluctuations so investing after absolute knowledge of the market conditions is a caution that every real estate expert gives to the end users. For people who already have done all the preconstruction work and has got all the clearances from the government, this would be the right time to build or renovate.
On the other hand for those willing to invest in the market for profit gains through investments in residential as well as commercial real estate, this would be the worst time possible, as the housing market lacks in the developer-investor trust and also the prices are quite high because of the unsold inventory in the market. This also is because of the lack of communication between the developers and real time investors. For those who are looking to buy the properties on the end user basis rather than for profit gains, developers are ready to negotiate to some extent because of the inflow of investments in their projects.