Is it the right time to buy?

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Despite the economic slowdown that the country is undergoing, there will always be demand for affordable homes from end users. However, in view of the falling sales graph the question that is foremost in the minds of most of those wanting to buy property is whether it is the right time to finalise the deal or one should wait a bit more for getting a better deal.

The general view is that the market is conducive for investment from both end users and investors.

So, who is driving the real estate market today? End user or investor? It is a right mix of both. There is a shortage of 25 million houses in India and affordable housing is in need of attention. The end of this financial year could be the start of an upturn as end users will be driving the market from then.

To buy or not to buy

End user is still looking although the conversions to actual sales from enquiries have reduced. Investors, however, continue to buy as any time is good for them because they donít know where the market will bottom out.

The real estate sector in India attracts all the three kinds of buyers ó end users, individual investors and corporate investors. Ours is perhaps the only market in the world where demand is sustained by end user with low-paying capacity to corporate investor sitting in a tower.

Affordable housing always in demand

The demand for affordable homes is still on an upswing as the end user who is vying to buy his only home is always on a lookout for a decent property.

The low to mid-income group customers are dominating the market, with 1BHK configuration being the most popular category. The customer today is well informed and will buy only where he/she sees development taking place.

Affordable homes will always be in demand for first time buyers, either upgrading from builder floor or rented home. Many home buyers are upgrading themselves by shifting from small to big apartments and ultra luxury residences.

Opportunities for end users as well as investors

Indian real estate today is governed by the confidence of end user and investor.

For the end user, real estate is a safe asset class for investment and for the investor; slowdown presents an even better opportunity to invest as he can capitalise on the returns later.

The first-time home buyer is driven by factors like growing urbanisation, job opportunities and development of satellite towns while investors have been the backbone of the real estate industry.

Factors driving Indian realty market are both end-users and investors because of the opportunities that the market presents to them. There are various options for end users while the investor is looking to invest now to extract a steady source of income in future.

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