The real estate market is one important segment where demand-supply gap has always been a matter of concern. After the recent demonetization move, certain speculative trends were seen in the market. Some said that the prices are going to see significant corrections while some opposed the idea. However, a recent report regarding the property market performance in the third quarter of 2016 was presented by JLL India, which told a completely different story leaning towards the brighter side.
For the first time after 2008, apartment sales on pan-India level have been higher than the number of new launches for the same period. In a market where oversupply had been a persistent problem, such great sales figures are very impressive. JLL suggested that the developers are aligning themselves to market realities and reducing inventory levels so that the prices remain stable. This is a mature step and reflects a new reality of the Indian real estate market. [Read more…]