In Mumbai, the year 2008 about 45% of investors had bought houses.This was slipped to 22% in 2009, and then shot up again to 43% inn 2010 and 52% in 2011. This is the highest in the past several years. This data given by Liases Foras, a nonbrokerage real estate research firm based out of Mumbai.
Mr. Pankaj Kapoor, MD, Liases Foras, said, “All the affordable housing schemes have been plagued with investors.Several buildings in the Mumbai Metropolitan Region are lying vacant. On the other hand, needy people are living on the roads, and sometimes in slums. The investors have ruined the present real estate market.”
Mr. Pankaj Kapoor also said, “Excessive capital is creating ripples in the housing industry.As per the logical current market circle, the capital pushes the prices of land up, and subsequently property prices push consumers away, while investors with surplus money are roped in to sustain and inflate the market. The state and central government needs to break this well planned circle to bring down the present exorbitant housing prices.”
Mr. Pankaj Kapoor, MD, Liases Foras, said, “All the affordable housing schemes have been plagued with investors.Several buildings in the Mumbai Metropolitan Region are lying vacant. On the other hand, needy people are living on the roads, and sometimes in slums. The investors have ruined the present real estate market.”
Mr. Pankaj Kapoor also said, “Excessive capital is creating ripples in the housing industry.As per the logical current market circle, the capital pushes the prices of land up, and subsequently property prices push consumers away, while investors with surplus money are roped in to sustain and inflate the market. The state and central government needs to break this well planned circle to bring down the present exorbitant housing prices.”
No comments:
Post a Comment