Property Price will Down As Result Goes in Favor of BJP

We already saw Indian Sensex going upwards in result day that show residential apartment price will reduce as BJP got majorty in 2014 election result. Markets have been trending up ahead of elections, as the prices of tens of thousands of homes built by local builders and investors in the metros have hit by as much as 20-30 per cent in the past one year, will lead to big bang reform announcements, because of which the owners desperate to exit a market in which buyers seem to have completely vanished. This is the biggest increases since the past year, which have unsurprisingly, been recorded in India where prices are now nearly 20-30 per cent above their pre-2013 peak.

House prices are rising ahead, because of which the situation in the residential market is getting worse and it is going to be ever harder for many buyers and investors to think of ever owning their own home. This seems to be a good time to buy, but few buyers are convinced.

Deepak Parekh, chairman of India’s largest mortgage lender HDFC, said, “The market is certainly soft today, while secondary sales have slowed down and prices in that segment have come down.”

Greater attention needs to be given to asset rise in price in the real estate market, where stocks have been rising on the expectation that the Narendra Modiled BJP will be well-placed to form a stable government, but there is no assurance to have interested people to buy or invest in homes.

Alexander Moore, Chief Executive Officer at Property Brokerage Firm LJ Hooker India, said, “Income levels of people have not risen unlike an exceptional rise in property prices due to slowdown in the economy. Home buyers want to see a stable government and policy enacted to make informed decisions.”

The demand for residential property is subdued as many buyers and investors have frozen out of a rise in property. The fears of high rise in property is being inflated and waiting for election results which may anticipate a fall in prices and interest rates on homes in the near future.

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