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‘Next 30 days good time to buy real estate’

Add comment   |   May 27, 2014    07:26pm   |Contributed by Indian Realty News

New Delhi: Nearly 60 percent of Indians think that next one month would be a good time to buy real estate with improvement in consumer sentiments following formation of a stable government, according to a survey by global research firm Ipsos.

“Almost six in ten (57 percent) Indians think the next 30 days will be a good time to buy real estate, such as a house, vacation property or investment property,” Ipsos said in a statement.

Founded in France in 1975, Ipsos is an independent market research company controlled and managed by research professionals.

“With the formation of a new stable government at the Centre, the consumer sentiment which was low in the last 2 years has improved significantly. The stock market has already reacted in a positive manner reflecting this change, the real estate prices are expected to go northwards by the end of the year,” said Bhasker Canagaradjou, Associate Director, Ipsos Business Consulting.

The realtors reeling under large scale of debt are offering discounts to reduce their inventory levels taking advantage of the new found optimism in the market.

The residential real estate market may see an uptick in the demand and increase in the number of transactions in the near future, he added.

Majority (65 percent) of people in Russia think next 30 days would be a good time to buy property followed by India (57 percent), Indonesia (55 percent), Ireland (51 percent), Great Britain (47 percent), Mexico (44 percent), Australia (42 percent), Hungary (42 percent).

“Those rounding out the middle of the pack are from the United States (41 percent), Germany (40 percent), Canada (39 percent), Italy (38 percent), Argentina (37 percent), South Africa (37 percent), Sweden (37 percent), Poland (35 percent) and Spain (34 percent).

The survey was conducted in 26 countries with a total sample of 20,144 adults age 18-64 in the US and Canada, and age 16-64 in all other countries.

Source: Zeebiz.Com

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