Forecasting of Indian Real Estate Market for the year 2018

Real Estate is the biggest industry in India. There are many real estate portals, builders, agents, sellers, brokers in India. There was a huge demand and good growth in the industry of Real Estate. Last year, many things happened in real estate market in India. Especially Demonetization, GST and RERA rules are the thing which effected Indian real estate market in India. Due to all these reasons Indian real estate growth was decreased by 2.5% in the year 2017.

Here you will check out an interesting overview of 2017 Indian Real Estate Market

Here we will forecast the situation of real estate market for the year 2018 based on few parameters like prices, mortgage rates, new home constructions, and demand for real estate properties and many more. With supply and demand, new taxation system, GST effect, RERA rules the following will be the forecasting of real estate industry for the year 2018.

The Real Estate sales will be slow:

The GST tax rate is still effecting on Real Estate Industry. The RERA rules are also showing much impact on sales. Many real estate builders and sellers are facing problems with RERA rules to start new constructions. If the number of Real estate projects are decreasing then automatically the sales will be decreased. But this will happen in the early days of the year. We can forecast that the real estate sales will be slow down in the first quarter of the year, but the sales will slowly improves after the first quarter.

Check out the Position of Mumbai Real Estate in the one year of Demonetization

Inventory drag will be continue:

A crippling lack of the inventory remained the defining trait of the housing market in 2017. Housing inventory declined 10.5% in the 12 months ending in November. Looking to 2018, the general consensus is that inventory will pick up slightly. The biggest reason for this modest optimism is that the current situation is unsustainable. So inventory drag will be continued to the year 2018.

Price growth will be slow:

There is no growth in the number of real estate projects. There is very less demand for real estate properties. Buyers are not interested to buy properties, they are having much confusion on real estate situation and few are unable to understand RERA rules. So due to lack of demand there will be very less growth on property prices.

Read about the Revised Tax System for Land in Bangalore

Buyer Ideology on Rent vs Bye a property:

With the new tax system and GST people started thinking which will be good on buying a property or renting a property. Before 2017 most of the people started buying new properties instead of renting a property. But now most of the people are deciding that it will be better to rent a property that buying. Now many property sellers and real estate builders are trying to convince home buyers. So we will hope soon buyers will change their mind and will focus on buying properties and projects.

Read Things to check before buying flats in Bangalore

These are the more forecasting aspects in Indian Real Estate market for the year 2018. By analyzing all these, we can say that the real estate market will be down for the first half and it will slowly improve by second half. So we can finalize that, 2018 will give mixed results for the real estate market in India.