#housingsector

Technology has brought about so many changes in different sectors. The real estate sectors aren’t excluded from the advantages that technology brings to the growth of any section of society. It is very apparent that if the real sectors don’t follow the trend of evolving in technology, there won’t be any growth in the sectors. The world is transforming into a technological place. In the coming years, any business sector that hasn’t come to terms with the fact that the world is advancing will be pushed off to the side. The internet caters to billions of people across the globe. Also, we have well-informed consumers who understand what they want, how to get it and where to get it.

Homeownership has always been and will continue to be a highly-cherished dream of most Indians but dreams alone do not sell homes. The question of why homes are not selling as quickly as they used to does not have a single answer – it is a matter of sentiment, and sentiment reacts to a number of factors.

The slowdown in the Indian residential sector is not the result of any one factor, though many would be tempted to assume that over-pricing is the main culprit. The fact is that people were buying homes when most markets were heavily and obviously over-priced. Therefore, prices are not the main reason why the Indian housing market has been under strain for so long – at least in the sense that they are unaffordable. Actually, the very fact that prices have been falling has contributed to the lack of positive sentiment.Of course, the cost of acquisition has also increased because of the imposition of GST on under-construction homes, which were once favoured for their cost-effectiveness.