Apartment Sales Plunge 26% – Real Estate Market Faces a Slowdown
Major Decline in Home Sales
The city’s apartment sales have dropped by 26%, marking a significant slowdown in the real estate sector. Industry analysts attribute the dip to rising property prices, increased interest rates, and cautious buyer sentiment.
Shift in Homebuyer Preferences
Buyers are now shifting focus to plots and independent houses, seeing them as better long-term investments. This shift is impacting apartment demand, leading to slower inventory movement.
Developers Brace for Market Challenges
Real estate developers are expected to adjust pricing strategies and introduce buyer-friendly schemes to boost demand and revive sales. Experts predict that government policies and lower interest rates could stabilize the market.
