With the economy giving indications of a recovery, the question as to whether this is the right time to buy property has yet again surfaced.

However, the answer as to whether this is the right time to buy, is not a simple yes or no, but depends on a number of factors like whether a buyer is looking for a first or second house, for living or investment and if it is an investment, whether it will be a long-term or short-term one, etc.

If we consider two property hotspots in the country, Delhi-NCR and Mumbai, it has seen two booms and two slumps in the last decade. The ups and downs may continue, regardless of prevailing market sentiments, depending on the project, geographical locations and various other factors.

Although developers have launched a slew of 'affordable houses', the dimensions and specifications of these new offerings are lower than those of earlier apartments. Swayed by the highway billboards, television producer, Preeti Banerjee went on a house hunting spree.