Rising real estate prices: Netizens say that residential property is now a dream for the top 5%

With the cities of real estate in the cities of the Tier I cities, Internet property in India is becoming increasingly a goal that can only be achieved for 5% of 5% of families with high network value. If prices rise faster than salary growth, Reddit's potential buyers argue that waiting for a price correction can be unrealistic. Instead of hoping for a market incidence, they suggest concentrating on increasing purchasing power.

“Is (home ownership) for the 5% net assets. It is not intended for everyone in the whether they like it or not. If no property can afford today, it is unlikely that you will afford it tomorrow when you are waiting for prices to fall,” emphasized Reddit on social media platform.

“You should concentrate on improving your shopping instead of waiting and hoping,” said the post office.Read too: Credai Bengaluru President for the renovation in the style of the Mumbai art to master land challenges

Say redditors

Some of the redditors point out that a large part of the challenge only focuses on the top 10–25% of the locations – naturally more expensive.

“These main zones are popular for good reasons, such as their proximity to important jobs, better security and stronger social infrastructure,” said one of the Redditors.

Redditors said that in most industrialized countries the affordability of living space is often managed by well -planned suburbs and satellite cities that offer solid infrastructure and connectivity.

“If a family cannot afford the city center, they continue to districts that are still livable, safe and well-off. For example in cities such as New York or London, from Manhattan to Brooklyn or from Zentral-London to an eastern place, the common and practical-to-reliable public, good schools, good schools and self-made communities,” said that the communities.

However, the Redditor pointed out that satellite cities and suburbs are often poorly connected, unsure and underdeveloped in India and that people do not make any choice than staying in the city center.Read too: How does the Greater Bengaluru Governance Bill affect the real estate sector in IT capital?

“The prices will never fall”

Despite the concerns about real estate prices that have been achieved in cities in the Tier I cities, owners and investors are confident that long-term value binding, especially in areas such as Noida and Gurgaon, are confident.

A seller who owned an apartment of 1,730 m² in sector 107, Noida, managed to sell it for over £2 crore after holding for more than six months, starting with a first offer of £1.95 Crore. The seller believes that the waiting was worth it because the final sale has considered proof that prices hold on.

“It makes no sense to buy something for it £2.5 crore if it does not meet basic expectations, but even in medium -sized locations the prices are stuck and rise. The prices will not decrease, I have waited over six months to achieve £2 crore of £1.95, but everything is worth it, “said the seller.