Sluggish Sales this Festive Season

Published on Oct 16th-2014
best projects in bangalore, best builders in bangalore, real estate news, best real estate website,
The festive season has failed to sparkle sales in the real estate sector. While many builders have geared up for festive period with discounts, incentives and freebies, the sales haven't been encouraging at all.

There has been over 30% increase in the launch of new residential projects every quarter in 2014, and this has resulted in the inventory shooting up over 8%.

Few websites have launched aggressive campaigns on Diwali Mela with discounts of over 6 lacs to push up sales, but we hear the response hasn't been great so far.

Bangalore, was the best market for real estate sales but now has started showing signs of weakness. Prestige Estates had largely been immune to this and continued its super run in terms of both sales and launches.

Prestige Falcon City, Prestige Gulmohar & Prestige Bagmane Temple Bells were the largest launches by Prestige and all these projects witnessed outstanding sales where 2 BHK units for the launched towers were sold within a day. The new towers were launched at these projects at higher prices are seeing steady sales.

Keeping the in view the current situation, we expect at least 6 - 9 months for actual transactions to pick up. Though many builders are hopeful that this will change sooner than anticipated.

- Abilash