Property prices would collapse like a pack of cards after the blood bath witnessed on Dalal Street and global meltdown the world over. Liquidity of most markets was sucked in by the stock markets across the globe and deep corrections now in stocks would leave many penniless. Realty sector in India would be the worst affected as rising inventories with hardly any buyers even during booming stock market days make them more vulnerable to corrections in stocks now.
Nobody these days invest in realty due to big ticker size of investment and almost negative returns in the sector. Property has liquidity issues as well as you cannot sell them overnight. Most of the money in Realty was unaccounted and ‘Black Money’ which the govt intelligently targeted through demonetisation. Good news for actual home buyers (to stay) though as their dream of possessing a home at affordable rates would come true in the days to come!
(The views expressed by the author in the article are his/her own.)