I was going through some numbers of the big builders and found out that the units are unsold in last few months. Though new towers are being built and the builders are showing that they are going sold out but the reality is different. It's not that people are not buying, people are buying too but a large section of people are not committing yet.
PC: Pixabay.com
This is because the prices are quite high in metro cities and people who have high paying job are little worried about the future because of the AI. And that's why they are not committing long EMis. Who have the money to buy, for them its a great time to buy because they can negotiate with the builder and get some good discount.
People are also taking the rent vs buy seriously and most of the people are actually getting into rent agreement rather than buying it. To be honest it's a great thing when you are uncertain about your future to rent the house rather than getting into the long term EMI.
People who can buy now are also waiting because they wanted to see if the price of the real estate is going down or not. If it goes down, they can buy and get some discount too. So if you are someone who wants to get into the real estate, you can bargain hard now and get good discounts.
So yeah the real estate seems to be slowing down but it's a good thing for people who have money and wanted to get into the real estate.
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