Residential real estate market: Buyers need to act before prices move up

Benefit from a market in correction mode

• According to a report from PropTiger, sales grew by more than 35 per cent (aggregate of top nine markets) year-on-year in the January-March quarter
• Launches were down 60 per cent in this quarter compared to the corresponding quarter of FY17. Launches increased only in Bengaluru and Kolkata
• Higher sales and lower launches are reducing inventory overhang 
• Prices moved up in single digit in most cities. Mumbai and Pune saw double-digit price growth. Noida and Gurugram saw price correction
• Investors who have been sitting on the fence need to act soon
• At present developers are still willing to negotiate on prices, and throw in attractive offers, such as free car parking, modular kitchen, etc 
• All this may vanish once prices firm up