Drop In Mumbai Suburb Prices
Owing to nil supply the property prices in the core areas of Mumbai are buoyant as ever. However, the suburban areas are witnessing a drop in prices by 10-20 per cent.
As the supply side is in excess the values of property are much less in the suburbs as compared to the main city.
According to market research reports, while in Borivali, prices are likely to come down by 10 per cent, the drop would be in the range of 15-20 per cent in Thane and Navi Mumbai. Industry experts feel that it would take a long time for the real estate industry to recover from the current slump.
As per a recent survey, Mumbai is the 10th most expensive city in the world. Having said so to buy an apartment in Mumbai remains a distant dream for a larger section of population. The profile of the prospective buyers mainly consists of youngsters who have come to make a career in Mumbai and spend considerable years of their life in rented apartments and homes. The rented options cost a bomb as well. So, owing a house in Mumbai is a task in its self.
As it is the property are so high in Mumbai and on top of that the rising interest rates has hit the home sales hard. Since long the transactions have been very low all across Mumbai. Mumbai real estate builder, Neelkanth Group, has seen its sales dropping by over a third in the same period.
But the news of a drop in residential real estate prices has brought array of hope for many who are in search of a home in the city.
Mumbai Real Estate Developers, who have their projects in the city suburbs, are now hoping that their projects will soon find some takers. They are optimistic of a good business ahead. Real estate in Mumbai has always been a trendsetter in the property market of the country. Therefore, considering prices declining in its suburbs the property agents and developers are hoping the same trend in other metros as well.
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So You Want To Invest In Uk ?
Investing in property can be a daunting experience. It is an exciting venture nonetheless, but one that should be entered into with a fair degree of caution. Some developers and salespeople can sweet-talk and lure you into purchasing a property that is not as profitable as you would like. Some people make rash decisions when it comes to investing in property and come out with costly mistakes. Do not be too trusting, and do your own research.
Admittedly for most people, property investment is confusing. Property investment is often associated with the stigma of being risky and with many pitfalls. Nothing could be farther from the truth. It is hardly surprising that once property concepts are grasped - and it is easier than you think to do so - you could be well on your way to confidently investing in property.
The first thing you need to be is a discerning investor. Come armed with research and know the right questions to ask. Of course, the first thing you must know about the property is the reasonability of the price. It is not enough that the price of the property you are eyeing fits your budget. The more important question is if the property is properly priced according to fair market value. It is important to research the prices of similarly situated properties to assess the market. If you are purchasing a property as an investment or to make a profit, compute the yield you will most likely obtain. For buy-to-let investment, make sure that the rental income is enough to cover the mortgage. Finally, choose your location well. As with all property investments, location is the clinching point. Choose areas that are up-and-coming or developing, as property values in these places are most likely to increase as well.
Property in the United Kingdom is very much a promising and viable investment. A quick look at the population trend of the UK shows us why. The UK population is consistently on the rise and is projected to reach over 62 million in the next ten years. This trend is attributed to the fact that people are living much longer due to improved health care, less pollution, better working conditions and higher standards of living. Most of this growth is concentrated in the progressive part of south-east England.
Immigration has also dramatically altered the areas where population is concentrated, and thus where demands for properties, houses and rentals is greatest. For example, as the very populous baby boomers reach retirement age and prefer to move out of the bustling cities, suburbs, leisure areas and properties close to the sea or mountains is on the rise. Generally, baby boomers prefer quiet spots close to the city, as they still want to maintain close ties with family and friends. Another factor you might want to look into is regeneration areas. Some parts of Northern England, for example, are fast becoming hot property areas due to improved infrastructure, retail establishments and commuter lines in the area.
Because of these demographic and socio-economic shifts, property investment strategies also change. With some parts of the UK fast becoming up-and-coming property hotspots, it would be a good idea to get ahead of the rest and purchase an investment property below market value in these areas.
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