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REAL (Investments) ESTATE:Time to make a move?

Until a few years ago, the real estate market was abuzz with activity and investors were interested in every project — old or new. Prices, although unnatural, were at agonizing highs. Today, however, present market dynamics sings a different tune. Prices have at least stabilized across the region, if not reduced. For an investor with surplus money, this could very well be a much awaited cue. But, is it really the right time? If yes, then which areas should people invest in and can good returns be expected from the short term? Or should investors wait a little longer till the market hits a new low?

The majority of market experts believe that the time is ripe for real estate investment. Some experts have termed the present situation as the ‘best’ time to invest. People who make money in the market are those who buy property when the market is down, and sell when the market is lively again. It is a great time for purchasing for people who are looking for a space for self-occupation, and for those investors who can be in the market for a long period. For those looking at self occupation, this is also the right time to strike a good bargain with the sellers. Developers and builders are facing a demand crunch, and the longer this stagnation continues, the greater: the desperation will be and as a consequence builders will be willing to sell their products (even at lowered rates). It is unlikely that the market will see a price appreciation in the short term. The best returns will come in the long run as the economy grows, and the demand from the expanding IT sector materializes. If the buyer does not invest now, then when will he do so?

The recent reduction in home loan rates also makes this an opportune moment for investments in real estate. Though some experts believes that home loan rates do not make such a dent in the demand for housing as loans form a relatively small part of the total cost of a property.

It is not wise to invest blindly. All said and done, not everyone is in favor of investment at the moment. There are dissenting voices which are cautioning the investor to wait a little longer. This is the festival season when there is not only local demand but also demand from Non Resident Indians. It will therefore be better for investors to wait till the end of the festival season rather than competing with NRI money. So, make your move only if you think that the game is tilted in your favor. If not, wait and watch….

We are approaching that time of the year again, when its time to ring out the old, and ring in the new. The New Year is probably the oldest holiday of all time, and has been celebrated for almost 4000 years. The tradition of celebrating the New Year is believed to have originated in Babylon.

The New Year celebrations lasted for eleven days, and it was a time of grand feasting. It was celebrated with the first visible crescent of the New Moon, after the Vernal Equinox - which is the first day of spring. (This usually falls around the 21st of March.) Logically; choosing the first day of spring as the New Year makes a lot of sense, as spring signifies the beginning of life, the beginning of a new season and the end of the winter - which is the last season. Plants are being ‘Planted, flowers have just started to blossom, and everything seems to be slowly coming back to life.

The Romans too celebrated the New Year sometime around the last week of March. However, Roman emperors constantly changed the calendar around, with the result that the calendar became completely out of sync with the sun - so while March would be spring in one year, it could be winter in the next!Finally; 1st of January was officially declared to be the first day of the New Year by the Roman senate. The day is bang in the middle of the winter, and doesn’t really have any astrological or agricultural significance. It was just a date picked arbitrarily. However, this didn’t stop the Roman emperors from changing around the calendar again and again. They didn’t tamper with the New Year date though. Finally Julius Caesar set down the calendar as we know it.

According to tradition, the first day of the year signifies what the rest of the year is going to be like. Thus, if you are working on the first day of the year, you are likely to be working for the rest of the year. Thus it is customary to celebrate this day in the company of friends and family.

The Dutch believe that eating donuts on New Year’s Day brings luck. This is because it is ring shaped, and any food in the shape of a ring shows that you have come full circle.

In some villages in Scotland, barrels of tar are set afire, and rolled down the streets to burn out the old year and bring in the new one. In addition, the Scottish people believe that the first person to visit your house on the New Year is a tall, dark-haired man; the year will prove to be a fortunate one.

In the United States, New Years Day processions fill up the streets. Decorated floats, dancers, musicians, singers… are all part of the procession.