Despite the severe hit on the real estate sector last year, Bengaluru market had several nuances of positivity flowing into it. The market had to make certain adjustments and attune to the demands of buyers. The year ended on a good note with claims of a better 2016 year ahead.
Raja Mukherjee, MD, Concorde Group was invited to participate in a Hangout session conducted by Magicbricks where he shared his views with consumers and answered their queries.
According to Mukherjee, the city’s real estate market in the year 2015 was flooded with luxury and premium properties which had very few takers. The disjuncture was that buyers who were keen on purchasing a property belonged to the mid segment and the market comparatively offered very few of these.
“To balance the prevalent demand and supply existing in the market, the developer community had to narrow down their new launches,” says Mukherjee.
The imbalance was corrected over a period of time before the year ended. Another factor that added the positivity dollop to the realty sector was the emergence of the social infrastructure in areas which were initially not considered a priority market even a couple of months ago such as Hennur in North Bengaluru.
Article Source : http://content.magicbricks.com/industry-news/bangalore-real-estate-news/investing-in-bangalore-know-the-market-performance/84232.html
Raja Mukherjee, MD, Concorde Group was invited to participate in a Hangout session conducted by Magicbricks where he shared his views with consumers and answered their queries.
According to Mukherjee, the city’s real estate market in the year 2015 was flooded with luxury and premium properties which had very few takers. The disjuncture was that buyers who were keen on purchasing a property belonged to the mid segment and the market comparatively offered very few of these.
“To balance the prevalent demand and supply existing in the market, the developer community had to narrow down their new launches,” says Mukherjee.
The imbalance was corrected over a period of time before the year ended. Another factor that added the positivity dollop to the realty sector was the emergence of the social infrastructure in areas which were initially not considered a priority market even a couple of months ago such as Hennur in North Bengaluru.
Article Source : http://content.magicbricks.com/industry-news/bangalore-real-estate-news/investing-in-bangalore-know-the-market-performance/84232.html
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