Threats to home sales in major tech hubs, as IT jobs loosing the fizz

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By Accommodation Times Bureau

The news; regarding job losses in the key information technology sector ; is threatening to enervate residential property in IT hubs ,across the country.

The scenario may force the homebuyers to lean towards major property markets, in cities including Bengaluru, Mumbai,  Hyderabad, Pune, Chennai and Gurgaon . “The residential market is largely driven by sentiments and a very important factor responsible for this is sustainable job and income generation. As major chunk of the homebuyers depend on home loans, which is a long term financial obligation,” said Samantak Das, chief economist and national director, Knight Frank India.

“Whether the actual job losses are happening or not, but information floating about this is likely to shake confidence of homebuyers.”





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