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Long-term drivers push up property market

Discussion in 'Business & Economics' started by Cassar25, Oct 6, 2008.

  1. Cassar25

    Cassar25 New Member

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    Experts have recognized that there are long-term drivers the push up the locale property market including good GDP growth, increasing affordability, conducive demographics, rapid urbanization, and increasing mortgage penetration, besides an improving regulatory framework. Despite the continued growth in residential property, it is estimated that there will be unbridgeable gap in the residential sector all over the country.

    The commercial and residential property market in Cochin has largely benefited by a high proliferation of IT companies and projects like the Smart City which are accountable for 60-70 per cent of the total demand.

    All around the country, the IT/ITes sector employs over 1.63 million people. The number is expected to grow for the next few years steadily. To keep up with the associated residential demands, would involve resources that seem currently unfeasible.

    As far as Indian retail industry is concerned, its size is believed to be $250 billion. The Apart from the IT/ITes, other sectors are also expected to grow at staggering rates in the two digits per annum.

    All these developments and investments in various sectors are sure to create a demand for residential apartments currently unheard of. Cochin apartments and housing sector can safely anticipate an enormous hike in demand and price.
     
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