Home sales dipped in 2014; Realtors eye turnaround new year

After a downturn in 2014 marked decline in home sales, high costs, developers are betting on lower borrowing costs and the economic recovery of the real estate market turned the corner in the new year.
Developers hope that the property market has witnessed slowing demand, because in the past few years, will be back on track in the second half of 2014 improved sentiment after the new government came to power, but this did not happen, and even very slow home sales in the festive season .
In commercial real estate, office leasing activity was significantly higher than that though weak retail sectors. Rents remained stable throughout the year.
Like in 2013, cash-strapped developers facing a huge housing inventory and buyers unsold for up to 6-7 years of delay in the delivery of the project, forcing them to focus on the completion of the project, rather than the introduction of new protests problem.
Developers strive to improve and did not help by providing discounts and payment schedules to relax buyers have been waiting for a callback prices and interest rates needs.
These negative emotions, some positive announcement from the approval of the new government, real estate investment trusts (REITs), relaxation of foreign direct investment (FDI), and the establishment of rule 100 in the form of a smart city.
These do not have a direct impact on the market, but the real estate companies and real estate experts believe that the interest of global investors will recover with these two measures in the real estate market downturn.
This year also witnessed the large number of real estate transactions, increasing investor interest in the real estate portal.

SOURCE : WEB