The year 2016 has brought lots of opportunities for employment, business, equity, shares and business as well. Now people are ready to invest in properties and buy new homes. Some are ready to upgrade their old house for renovation.
- Normal condition – The coming year will show slow growth comparatively to the last year but it is not a situation of taking condition. The trend of yester year was very abnormal and real estate business faced lots of struggle in a country like India. There were lots of devastating effects in properties, lands, farm house and residential property. But this situation brings normalization in conditions of Real estate business.
- The shuffling year 2016 – The last year sale was two million which was one-third of the total sales. The same pattern will be continued in coming year due to the improved financial conditions of people and mostly the young generation of between age of 25 and 35 will join the market again.
The 2016 year will be the year of x players and older people who want to invest their retirement money for extra earnings. These people are called market boosters because they act as a seller and buyers as well. This two generation will generate more inventories for their old age and better living style.
- 3. Affordable prices – The main problem of the modern era is the nuclear family lifestyle and labor problem, less demand, higher land costs etc. Now developers have moved to apartment constructions which are available at reasonable cost. The single family concept is appreciated by young generation and attracting the high volume of customers. Some builders are offering flats at very lower cost to the new generation of consumers.
- High rates of mortgage – The rates of the mortgage were high in 2015 and became normal after few months. The same condition will be followed in 2016. The guidelines of Federal Reserve will give the hike to the rate of interest and will give upward trends to the mortgage trends. The rates which did not change from last 30 year will change in 2016 year. The awareness level of consumers is very high so the increasing rates will be managed easily. In U.S. the higher rates will urge existing house owners to buy and sell the properties before the rates fluctuation.
- Rent will be higher than home prices – In this year the rent rates of a house will go high due to a negligence of politician and government. The U.S. market conditions will exceed up to 35% for renting houses. The rent is increasing then the prices of houses and it will be the very tough condition for the tenants. The rent will hike with double pace in the last quarter of the year which will be troubling for all the public. People cannot afford to buy houses this year due higher prices. The present trend will not affect the future of real estate business.