Real Estate in Cities Become Most Affordable in Last 7 Years
2018 is the time for all those homebuyers who were waiting for a perfect deal to come their way. Yes! You hear that right. Experts have suggested that 2018 is that one year in which real estate in cities has become most affordable in the last 7 years. It is the one such time when the real estate sector is offering substantial drop in the prices and rain-like discounts from developers.
Samantak Das, Knight Frank, which is a commercial and residential property consultant said, “After refusing to budge for years, developers in Kolkata have finally blinked. The weighted average price that the developers used to quote would remain constant, even in adverse conditions. But around 50% developers used to offer discounts at the effective price that is arrived on negotiation across the table. Now, more than 80% developers are offering discounts. This, with the constant price despite the 4.5% inflation and the actual rise in construction costs, takes the effective discount to 12% and makes homes in Kolkata the most affordable in years.”