Prestige Falcon city Finest Abodes Prestige Falcon city Bangaloreby Jony Sharma prestige lakeside habitat
Whenever we hear about correction, market changes from a sellers' market to a buyers' market. Demand for property goes down & property prices may decline. So, are we heading towards a correction in Pune's Real-Estate Market? NOT REALLY! Say Experts. Here are the reasons why prices of flats in Pune may not see a major price correction: The real-estate price in Pune may not witness a crash since there are innumerable factors which have supported its development. The primary factor being the population size & the need for housing Rest of Maharashtra seems to be migrating like never before to bigger cities & Pune has been an obvious alternative for its Cosmo cultures/education/industrial expanse & business opportunities. Currently there looks to be a mismatch between the supply & demand so we may see a rationalization of prices in certain micro markets & locality however, this may not be the case across Pune.
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Secondly, if one has a closer look at Pune - both as a city & as a property market. Pune's overall fortunes are generated by three industries - manufacturing, Medical/Healthcare & Information Technology. The fact is that Pune scores higher than many of the larger cities when it comes to popularity as a destination for jobs in information technology, industry & as well obtaining opportunities in healthcare & medical segment. All the people working in these segments - from the blue collar to white collared employees or right up to senior management - are all either buying or renting our flats in Pune in varying price ranges. The transient component of these employees (employees who aren't not from Pune, so will not opt to take up permanent apartment here) are a constant source of rental income for investors with properties in the right localities of the city.
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Because of this continuous & stable demand for residential apartments and flats in Pune, there is hardly any scope of a property market correction. In fact, there has been a year on year price increase of 6-10% in various locations. Harsh Reality, this may be but then there seems to be a little scope for price corrections to buyers of flats in Pune. In such a marketplace locality, Pune will keep on to be one of the safest & mainly worthwhile savings avenues for a long time to move toward. With stable & progressively increasing demand for housing in Pune, there is no probability of a property market correction.
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Created on Dec 31st 1969 18:00. Viewed 0 times.