Property Brokers Poll

Here is how the Property Brokers of Bangalore, Delhi NCR , Mumbai and Chennai forecast the property market for the forthcoming year.

The Bold Statement was,

Government support will not alleviate impact of external events. Consequently, we expect property volumes to remain muted and prices to decline.

Here is an excerpt from the survey conducted by Edelweiss.

Past Price Trend:
Three questions were asked - How have prices moved over the past one year ? How have prices moved over the past three months ? How have prices moved over the past one month ?
75% of the property brokers unanimously said prices have fallen over the past one year. 77% said they have fallen further in the past 3 months.

Business Volumes:
87% brokers have seen a drop in transactions over the past one month and a whopping 69% have witnessed steep fall in inquiries as well.

Property Brokers Outlook for the next 12 months:
63% brokers expect price trend to be negative over the next three months and 46% of the brokers expect price trend to be positive over the next one year.

In the next article we will cover property brokers views in specific pockets of most sought after realty markets in India.