Tricks to buy commercial property in 2017
Year 2017 is expected to be a
beneficial time for property buyers. With the demonetisation move and the
resulting downturn in the real estate economy, property sales have almost come
to a halt. The ban on huge cash transactions has severely affected both
residential and commercial real estate sectors. The proposed real estate laws,
when they are implemented by the government, will make it all the more
buyer-oriented. The purchasing power will be back with the buyers. So, if you
are looking for a commercial property as an investment or for business
purposes, this is the right time. A number of commercial spaces and properties
are now available for absolutely affordable prices. Here are some tips to keep
in mind while buying commercial property in 2017 according to property.sulekha.com.
New projects
Commercial property
developers who had hoped to make a fortune from the sales of their new projects
are now looking for ways to dispose excess stock. There is a huge number of
unsold commercial properties in most of the major cities in the country. In
order to maintain sales volume, developers are offering attractive deals and
prices to the buyers. It will be beneficial to buy new commercial properties in
2017 as buyers have more options to choose from a plethora of offers and
locations. Since new properties do not require repairs or renovations, buyers
will be saving big.
Prime locations
When buying a commercial
property, make sure that it is in one of the prime locations that boost
business prospects. For example, if you are looking for commercial shops for sale in Mumbai, try to buy it in areas like Andheri or Jogeshwari or other
business areas which are busy commercial centres. Since owners are waiting to
get rid of unsold commercial properties at the earliest, chances are that you
will get a really good deal for a property at a prime location.
More for less
When buying commercial space
in a mall, try to grab more than one space. As prices are really low right now,
buying two or three commercial spaces in a single property will be a good
investment. . Even if you spend a little more initially, the returns from the
monthly rents can compensate for that. You can rent them out as individual
spaces, or as a single unit for a larger shop. Moreover, when you buy two
adjacent spaces, either vertically or horizontally, you can meet the expansion
requirements in future.
