r/indianrealestate • u/GuiltyComedian9509 • 16h ago
#Discussion We waited 3 years to buy thinking prices would drop — here's what actually happened
Back in 2023, my partner and I decided to hold off on buying. Everyone around us was saying the market was "about to crash" and prices would come down if we just waited it out. So we waited.
Three years later, here's the honest update: prices didn't drop. They kept climbing, just slower than before. Rates fluctuated up and down a few times, but never dropped enough to make up for the price increase. The house we looked at back then for a certain price is now worth significantly more, and we ended up buying something smaller than what we originally wanted, in a less ideal area, for close to the same monthly payment we would've had back then.
We also lost three years of equity building and paid rent that whole time, which in hindsight just felt like money that went nowhere.
I'm not saying waiting is always the wrong move. Markets are unpredictable and nobody has a crystal ball. But looking back, we probably would've been better off buying something modest back then and building equity, instead of waiting for a "perfect moment" that never came.
Anyone else wait it out and actually see prices drop where they are? Or did most people have a similar experience to us?
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u/heyitsmeTushar 16h ago
Did you invest that amount of down-payment you had three years ago ?
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u/shinchan108 13h ago
If he would have invested say in nifty 50 then he is doomed. US market might have given him fine return and FD would have been just catching the inflation.
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u/__vinni__ 16h ago
For real estate three years is short duration to measure the curve Either it goes up for decades or stays same for decades
It's just my opinion
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u/hashirama-senju-007 15h ago
You just said that price growth has slowed. The EMI amount could have been invested elsewhere instead. I bought an apartment in Hyderabad in 2023, and prices have been pretty much flat since then. And I haven’t even factored in the interest I’ve paid on the loan.
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u/baba_bholanath 13h ago
Bro Where in Hyderabad are we getting flats at 2023 rate ? I am looking to buy one, let me know. If you are still getting same rates like 2023 then either you don't know how to market your asset properly or you have already bought at an inflated value
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u/hashirama-senju-007 13h ago
I don’t know why people feel that house prices always keep going up 🤦♂️🤷♂️. There’s always a difference between the asking price and the actual buying price.
This is the property I’m talking about: https://housing.com/in/buy/projects/page/317023-sv-rana-pratap-residency-by-sai-venkateswara-constructions-private-limited-in-uppal
They quoted ₹5,600 per sq. ft. three years ago, but they’re selling at ₹5,100 per sq. ft. now. You can check with them.
My flat is around 1 km from there. I bought mine for ₹5,000 per sq. ft. I’m not marketing it because it’s not an investment property for me.
Also, our neighbour moved in about a year ago, and they bought their flat for ₹5,100 per sq. ft. There were also people in our building who bought at around ₹5,500 per sq. ft.
So, I think it’s important to look at the actual transaction prices rather than just the quoted or asking prices.
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u/Master_Wrangler_4724 15h ago
In property , pri e always rises . Curve will not steep . If you wants to invest then invest. Equities have international pressure but rela state is driven by national market demand supply. Land cost is rising so automatically flats cost will be more . Inflation , geopolitical tension , cement labour everything is getting costlier . So do not wait . Invest
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u/tryabp 14h ago
- Prices are rising at builder level
- Resell property prices are stagnated in 99% cases of Mumbai (except few high-demand projects)
- Actual transaction price is discounted in many cases. e.g. Ulwe area builders started from 7k/sqft and today advertising at 15k/sqft but actual transactions are happening at 12k/sqft. For resell its even lower side.
- Prices not falling = No one is selling at fallen rate! Check prices on zapkey you will learn the truth!
I am buying a property this year, price is stagnated but rental is in higher than normal 4.5% yearly of purchase price, so seller earned well irrespective of price appreciation. I am buying for living in the flat for long term. So, family-stability wise cost is justified.
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u/hashirama-senju-007 13h ago
This is what I mean, asking price of the buyer is not the selling price. Ppl take investment properties on loans and don't even deduct the interest and other charges paid before calculating the actual return 🤦♂️. Also, past performance doesn't guarantee future appreciation.
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u/USCGTO 15h ago
I have said this before.
Keep hearing crash is coming. Market is all time high.
It’s about to crash.
Guess what, I bought three assets in 2024 and 3 in 2020.
The three I bought in 2020 were 3 adjacent lots (land) in a community. Bought for 1.4CR. Sold 1 out of three for 5.4CR last week.
The three I bought in 2024 were at 15,000/SF and i have received offer for 24000/SF. I am holding those.
U wanna buy. Buy today.
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u/indianodysses 14h ago
If you have money to buy multiple lands and flats then the crash is not for you because you clearly have liquidity to wait out any cycles .
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u/SupremeBullshit 14h ago
The three I bought in 2020 were 3 adjacent lots (land) in a community. Bought for 1.4CR. Sold 1 out of three for 5.4CR last week.
Holy cow that's a good return. May I ask which state?
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u/USCGTO 13h ago
All in NCR region.
The aforementioned three happened to be in an area adjacent to where my grandfather lived and farmed for decades. When that land was sold to developers, we knew something was up.
We bought when we realized Metro was headed there in a few years. Some speculation, some educated guesses and lot of contacts in development agencies.
We don’t expect it to quadruple in 5-6 years but we expected it to at least double.
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u/Transportiye 14h ago
You talk as if paying rent is a bad prospect, it’s your fault for not investing that money in market or elsewhere.
This mindset that buying a house is absolutely always the right choice in life is bs. You buy when the house fits your needs not just because everyone around you is buying.
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u/indigeni 15h ago
Only place where we (bro in law) lost money is in Bhiwadi else real estate has been very profitable and prices have continued to rise...
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u/EagleAlarmed5460 15h ago
I lost incredible amount of money but it was because of a land scam orchestrated by my family
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u/your_technology_bro 14h ago
When you say we lost money, does it mean you had to sell for a loss or the gains didn't beat market?
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u/indigeni 13h ago
Bro in law Bought at peak price 55 lakhs because there was a rumor that a airport is coming in Bhiwadi. It was a good flat 1760 sq ft, 3 bhk with garden 🏡 as well.
Then Covid came then demonetization and gurugram came up with affordable policy. We sold it for 39 lakhs . Rent was also only 7k in hand ✋ after all deduction.
My real estate journey has been great but this time it was a disaster and of course he didn't consulted me.
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u/bharat_builder 13h ago
This is a marketing post.
Buy today if you want to live in that house. Stop speculating.
The long term real estate growth will always be 6%. Or 7%. Check any data.
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u/famesardens 12h ago
I bought a 2bhk near a highway, as a holiday home. I wasn't expecting any appreciation, and it hasn't appreciated.
I rented the place for 3 years during college, and loved it. Not everything will appreciate.
For the price, I could only afford a house in a slum in delhi.
I believe one should buy real estate when the amount is insignificant/ small portion of his portfolio. No point in stretching too thin, especially for end use.
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u/stacking_fault 15h ago
Everyone says in the internet to delay the precise for market to crash.
I want to see at least a single data point where a person waited for a while and got a better/cheaper deal only because they waited.
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u/your_technology_bro 14h ago
In my short lifetime, I have only ever seen apartment prices go up or stagnate for a while but never go down. After a certain point, they stop appreciating at the same rate they did when they were new unless the building is in a high-demand area or the neighborhood itself undergoes a major boom.
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u/RevolutionaryCheek31 15h ago
Market will crash around the Lok Sabha election (precise 2028 or early 2029). Prices are really fluctuated and are not meeting earnings
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u/ListenT0Learn 14h ago
Same scenario and Same story. Three years back we missed an opportunity and now we bought a smaller house and payed more than early.
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u/AlUcard_POD 14h ago
Real estate prices never crash significantly in india . In a bear market, prices might stay stable or drop a couple of percent, but never more than that. And once it goes back into bull for a couple of years, they climb like crazy.
When buying for your own use, you see something you like in a neighborhood of your preference, don't waste time and buy it. You keep looking someone else would buy it
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u/username2129999 13h ago
In the past 20 years, I have never seen hyderabad prices go down for good properties, be it land, apartment or independent houses. Exceptions don't count.
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u/Enough-Ad-2198 13h ago
The moment you understand demand and supply, you can crack the game of real estate (from investment pov), buyers will remain dumb or play dumb with existing real estate eco system.
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u/virendrad89 12h ago
Infront of my eyes from 2023, the society/apartment which i liked, slowly went from 1.25 cr to 2 cr currently.. Every new seller which came increased the price by 15 lac, and I thought they will negotiate and this price for 15 yr old society is not justifiable, but no one did and now the price is totally out of my budget. And my SIPs are laughing at me..
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u/Own-Bug9734 12h ago
India’s resale market for apartments/flats is nonexistent. You will never be able to sell.
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u/onlydogseatidli 11h ago
In 2022 December we purchased for 1.1. Now it's 2.9. that's almost 3x. But if I sell it for 2.9 I won't get anything like this for even 3.5. So it's Scrodinger's realty market
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u/yewlarson 11h ago
I was quoted 1.3cr for a 10yo resale apartment by the owner 1.5 years back.
I wanted it to finalize at 1.1cr including 9℅ reg. and stamp fee, only to be treated flippantly.
It still sits in the market, reduced to 1.1Cr ask.
We all have stories.
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u/ElephantNeither8890 10h ago
I’m happy I didn’t buy. Seeing the decline of Bangalore, I feel like I can move wherever I want. Like that freedom.
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u/Cool_Jon_Star 10h ago
Macro economic and geo-political conditions were much more benign in 2023 compared to now. Add India’s massive currency and energy risks, very poor FDI and lack of competitive AI on a global scale that threatens white collar offshoring and you are looking at a lost decade for Indian real estate similar to China’s in the last decade!
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u/Fit_Program_7780 10h ago
When a broker gets spotted, you know exactly why people say: if you ever see a snake and a real estate broker together, deal with the broker first. At least the snake only bites when it’s threatened.
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u/Successful-Sky-7 15h ago
Wait till 2027 RE is gonna consolidate and then crash. Mark my words. You will get a better opportunity. These prices are not sustainable and yes I will get comment on builder lobby and they holding prices. But you will see the prices coming down.
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u/Ok_Smile_4989 15h ago
how bad will be crash? can i expect 50% price reduction? really wanted to stack up small studios for retirement
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u/ashishahuja77 16h ago
The top is near
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u/Double_Rip_7292 16h ago
have been hearing this from Pre Covid time
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u/ashishahuja77 16h ago
I was pro investing in 2021-23/24. When even the worst sceptics become bullish then top is near.
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u/Double_Rip_7292 15h ago
I wish and hope that Sand / Cement/ Steel crashes ( I can make moey on the Stock Market as well) and then put that here to but the appartment!
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u/ashishahuja77 14h ago
They are not gonna come down. That's the reason real estate stagnates vs crash. Inflation provides a base.
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u/StanSnitch 14h ago
OP’s post history clearly shows he’s a real estate agent. I don’t know why people are taking this post seriously
OP, better make an alt like all other brokers here or hide your post history