Like stock markets, when the real estate market is hit by fear psychosis, potential buyers just postpone their decisions; there is no distinction between a good property and a badly located property
At present, transaction prices in most markets are down by 25-30% across the board.
This is precisely why experts suggest that you take this opportunity to invest in property. With many investor-driven markets having shown a substantial correction of late, they say it's a good idea to get in before the markets start picking up. Already, some smart investors have begun to explore the real estate market in smaller cities. This is because the entry cost at these places is lower when compared with the cost of property in metros. This is also a good time for investors to sharpen their bargaining skills to notch further discounts on the falling prices.
High net worth individuals have started coming back to real estate as they feel that the sector has bottomed out and they will get good returns on the money invested in big projects.