A property market is determined by supply and demand of real estate, which then dictates whether it is a Buyer’s or Seller’s market. In a buyer’s market there is more supply than demand meaning there are more homes for sale than there are actual buyers. Homes placed on the market stay there longer and then sell at the same price or a lower rate. In a sellers’ market there is more demand than supply; homes placed on the market during this time sell faster and maybe at a higher selling price.
The real estate market in India was facing a slump, with shortage of funds, unsold inventories, clearances etc. there was ample supply but no demand. In metro cities prices were too high for the common man, and everywhere the real estate market suffered. But in recent times with the Indian economy growing and with a lot of people investing, real estate has got a shot in the arm and a change in scenario is witnessed. [Read more…]