Stagnant property prices cheer home buyers, become headache for investors
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The slowdown of property price appreciation in these top cities has forced the investors to opt out of
Property investors are pained over difficult exit and incurred losses.
Presently, in Delhi-NCR property prices have seen minute appreciation around 2 per cent in the last quarter of 2015 against 7 per cent in 2014.
Likewise, in Mumbai also the residential property prices saw an appreciation of 3.3 per cent only.
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Meanwhile, JLL predicts that the Mumbai residential property prices in 2016 will touch 6%.
The JLL study showed that unlike the pre-global financial crisis times, the market has seen a rather subdued growth in prices over the last couple of years.
"Current market does not offer any incentive to investors, even our usual set of investors are not showing any interest in picking up properties. If annual appreciation is less than 5% and lease rental yield is around 1.5% per annum, then why would they be keen to invest?," ET quoted Yashwant Dalal, president, Estate Agents Association of India, as saying.
However, Pune, Hyderabad and Kolkata have still seen relatively better appreciation in home prices at 5-10%.
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(Image: Indiatimes)Advertisement
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