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Thursday, November 21, 2024 |
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Real estate prices to rise |
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adleycharles
Outsider Joined: Dec 20 2011 Location: us Status: Offline Points: 10 |
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Posted: Jan 25 2012 at 5:39am |
The main reason
behind price rise in real estate
property in the short period of time is the migration of people. When many
people migrate into a city than out, the pressure of the demand causes
real-estate prices to rise. Also there
is every class of buyers like big landlords, industrialists, NRI's, traders,
well advanced doctors and lawyers etc. who are ready to spent 60 lakhs to
crores for their dream lands. After buying these lands, they have to spent
additional amount of 40 - 50 lakhs on construction and renovation to build
their dream houses. There is a period of time among the housing permits and the
finishing of building construction. Therefore, in the short-term, as people shift
for jobs and schools, housing prices can move away from what's affordable for
people in the long-term.
Rental prices are basically limited by people's income, but resale prices are not necessarily limited in the short-term, as long as people can finance their purchases. |
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erincaroll
Outsider Joined: Feb 29 2012 Location: Bethesda, MD Status: Offline Points: 1 |
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I firmly believe the reason you mentioned behind continuous rise in real estate property is correct...Migration some where or the other is responsible for rapid increase in estate property prices..
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adamcollin
MUSA Immigrant Joined: Jul 29 2017 Location: Killeen Status: Offline Points: 16 |
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I too agree.
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Lone Star Realty & Property Management, Inc.
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