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» Speculators seen keeping off from realty market

Date: Sep 15, 2008

Author: Economic Times

Speculative buying in the real estate market in leading cities has declined to 5% from 30-40% earlier and genuine end-users account for nearly 80% of total property sale, a report on real estate by Ernst & Young and FICCI has said.

The report said, “The last three to four quarters have witnessed a significant shift in the buyers’ profile with real estate prices reaching a level where speculators\investors cannot realise significant returns.”

Speculators used to account for 30 to 40% of total sales earlier, according to the report released at a real estate summit.