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Euro zone crisis makes Punjabi NRIs away from real estate market

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Though it is very far the euro zone crisis is making the market of the real estates very sluggish in Punjab. Investment into the real estate business is considered as the natural choice of investment for the NRI of this state. According to an estimation around 2 lakhs of NRI is established themselves in various parts of Europe including U.K and Holand from Kapoorthala, Jalandhar, Nawanshahar, Ludhiana, Hoshiarpur and some other parts of Punjab. They are all engaged in one or the other business with respect to corporate jobs. But as the consequences of crisis in European countries the money flow has condensed a lot effecting the growth of the real estate market in the state. Last month was the most effected period in the favorite real estate sector of the state as there was a steep fall of economy at the euro zone. Sources also reveals that as of now no fresh investment has come into notice and the market is continuing with the older partners in the business. It is all due to the poor economic condition of the euro zone that even the financial organization has tightened their norms to lend money for the business purposes. So it’s becoming bit difficult to raise money for their interest in real estate in Punjab.
According to the confidential sources, the time period of October to December is measured as the peak time for the investments of the NRIs into the real estate business in Punjab. It is not that the entire real estate business of Punjab is puppet of NRI’s investment but their silence has definitely made immense effect on the pace of the real estate market in Punjab. Hope the normal situation returns back soon so that more home buyers can fulfill their dream home with better amenities and services.

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