As the economy shows signs of decreasing GDP growth rate, the Indian real estate industry faces its own share of concerns. Real estate developers are reeling under high debt and FDI inflows have also slowed down. The recent increase in home loan interest rates is expected to dampen the sales even further. Amidst these macroeconomic conditions, Indian real estate asset classes across the prime cities of India have seen mixed sentiments.
Residential sales remained slow in most of these cities in 2011. Residential project launches also showed a marked slowdown by 3Q11.The demand for office and retail space leasing remained healthy in most of the cities. What does the future hold for the real estate sector in 2012?
Commercial Real Estate
In 2012, several IT companies are looking to pre-lease office space to take advantage of the favourable commercial terms currently being proposed by commercial office space developers. Demand is expected to remain stable. However, the office space supply is expected to outweigh demand in most prime cities of India. Corporate expansions are likely to decrease due to the uncertainties in the global economic situation, which will have an impact on business budgets for next year. India Property Index
Retail Real Estate
In 2012, enquiries for quality retail space are likely to remain robust as major Indian retailers are seeking to implement their expansion plans in the prime cities as well as select Tier II and Tier III cities. FDI in multi brand real estate, when finally permitted, is expected to catalyse a lot of demand from international retailers. That said, international luxury brands will restrict their growth plans to Mumbai, Delhi and Bangalore.
Residential Real Estate
Because of the prevailing uncertainties on the global market and the likelihood of further interest rate hikes by the RBI in the early part of 2012, sentiments on the residential market will remain cautious over the short term. The absorption rate – meaning the ratio of sales over inventory in the market – is likely to be low, and the incidence of new launches will decline. Rise in capital values will be marginal because of low sales.
Project-specific price increases can be expected across all sub-markets – this pertains specially to projects that are being delivered or are nearing completion. The mid-end and affordable housing segments will record healthy appreciation in capital values in the short term from a low base. We expect these trends to continue during 4Q11 and 1H12.
Meanwhile, residential developers will continue to tackle the current liquidity crunch due to high interest rates and slow sales. We will see a slowdown in construction activity for the time being. However, as demand improves, improving sales will benefit developers who will focus on execution of their on-going project portfolios.
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Numerous property owners nowadays are generally dealing with financial stress and are wondering what to do with their severely undervalued properties. The housing market has single-handedly damaged a great deal, and, in addition to individuals losing most of the home equity they were depending on, they also have to think about their particular mortgage company coming after their house in a real estate foreclosure motion. In an effort to help these struggling home-owners, the government came up with HAFA (Home Affordable Foreclosure Alternative) process. HAFA is considered the sister plan to Making Home Affordable, but HAFA is without a doubt succeeding in all the ways that MHA is without a doubt failing.
2 years ago, there was clearly such an emphasis on mortgage loan modifications. Homeowner’s were furious at their own mortgage brokers for tricking these folks right into bad home loans, and the mortgage lenders weren’t doing almost anything to assist most of these stressed property owners stop losing their homes to real estate foreclosure. In response to the massive influx of home foreclosures that were under cutting the housing marketplace, the federal government released the Making Home Affordable program. This particular plan seemed impressive and it was basically expected to aid tens of thousands of homeowner’s stay in their own houses. The fact is that, this program hasn’t even aided a small percentage of people who require the help most and quite a few folks are left confronting real estate foreclosure.
However, there is a shining light after this somewhat endless tunnel. In an endeavor to present homeowner’s a better solution to simply losing their residence in foreclosure, the us government created the HAFA program. The HAFA program is without a doubt amazing for the reason that it holds lenders to certain timelines. Lenders do not sit on short sales for many months, and they are attempting to do a far better job of analyzing the short sales promptly. At the same time, the HAFA short sale plan likewise created particular guidelines in an effort to get almost all lien holders aboard. Furthermore there a wide range of amazing features to the HAFA plan, but the greatest benefit has to be that the seller will get $3,000 cash back at the close of escrow. The home owner may then use this money to help with moving costs.
Just about every loan company deals with HAFA short sale guidelines in different ways. For instance, the majority of the big financial institutions follow the standard $3,000 cash back to the seller at the end of escrow, however Wachovia takes it one step further, and they offer $5,000 cash back and their short sale processing timeline is drastically shorter compared to the rest of the lenders. HAFA has provided incentives to all parties (the home-owner, the lending company, the servicing company, and so forth) to cooperate and also work together to get the short sale closed.
The most difficult thing about this real estate market is the fact that countless distressed home owners do not have any additional option but to lose their home. For many, a modification just is not likely and lenders currently have quit honestly working on mortgage loan modifications. The real estate foreclosure process is so unpredictable and then the thought of a sheriff evicting households is really distressing. Having said that, a short sale permits the household to develop their unique plan for moving out of the house, and today the HAFA program puts $3,000 cash in their pocket to assist with moving costs.
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But before you can achieve success you must deal first with the possible risks of investing in real estate. And if you want to be successful, here are the things that you need to develop.
Goal
Before you enter the Miami commercial real estate market you must determine your goal. You must have the right direction from the beginning. With this you will be able to take the right direction and help you make the right decision.
Keep in mind that there are several challenges in commercial real estate market and you need to overcome these if you want to achieve the goals that you set. You need to set a short term goals which will lead you closer to your long term goal that you have set. But of course it is important to make sure that your goals are realistic and achievable. Task Oriented
Your goal should also motivate you to work for them. Ion working for them, you must possess patience and determination as an investor. And of course it is important to have the right skills and expertise. It is important to learn how to work hard in order to achieve your goals. You may enroll with the basic investing class and develop the right skills in order to survive with the competition. Before you achieve success of your investment, you must keep in mind to give the right amount of dedication and work in order to get closer with the rewards.
Motivated
It is important to be well motivated in order to achieve your goals. Simply waiting for the return of investment without exerting any effort is not the best way to invest. You have to face every day as a challenge and you have to find the right motivation that you need to accomplish the task. Your eagerness to achieve success can help you to get closer with your goals.
Forward Looking
Above all you must have the attitude of forward looking towards Miami commercial real estate investing. You should not be stock with the past. And aside from that you should not only think of the present but also anticipate possible business scenarios in the future. This will help you make a better decision and avoid heavy problems in the future.
All of these things can help you in achieving success as you enter the Miami commercial real estate market. Keep in mind that the commercial real estate market is far different from investing residential properties. With this it is very important to give all your best in order to make sure success in the future.
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