The property market grows higher every year, and this 2016, real estate experts say that foreign investment will still continue to increase, especially in the cities of Vancouver, Canada and Gurgaon, India.
According to the Real Estate Board of Greater Vancouver, 2015 displayed the highest recorded home sales in Vancouver. Darren Kwiatkowski, executive vice-president of Shape Properties, said, "Almost everyone agrees that Vancouver is a bright, shining star on many levels." This was one of the assessments discussed in the recent real estate conference sponsored by the Urban Land Institute.
It was also suggested that foreign investors are waiting for the Canadian currency depreciation for a better purchase in their deal. Admittedly, they see that the Bank of Canada's interest rate hike can influence the Lower Mainland's property.
Although more people are predicted to rent rather than purchase lots and houses, suburban areas beyond Vancouver are expected to have an increased buying activity.
On a similar note, the City of Gurgaon displayed a continuous growth with the increasing presence of the multiple multinational corporations. This has led to the city's realty boom in the past fifteen years.
With the National Capital Region's (NCR) highest unsold inventory figures amounting to 170,000 units, only 22,000 unsold units were from Gurgaon.
Gurgaon real estate market was favored by developers in years 2010 to 2012, making it a buyers' market. However, buyers may still not get attracted to the market's prices.
The trend of slowed down economy and sky rocketing prices has been seen over the years. This makes buyers to wait for the prices to go down before buying or investing in properties.
Despite this, Gurgaon's administration still looks forward to a positive and growing real estate market. Gurgaon, being NCR's hub of service, notes the significance of the manufacturing sector in neighboring cities. This makes the government create more industries that may call on for yet another increase in housing demand.
