How to negotiate a good deal with builders in the current market situation (Middle east issue)

Home prices should come down in the coming months because of the situation in the Middle East.

I spoke to an NRI friend of mine who is cancelling his EOI booking in Bangalore. Given that many new projects are heavily sold to NRIs as investments, this felt like a big signal to me. As an end user, I’ll see this as an opportunity. Current prices feel totally absurd and a lot of that seems driven by investment demand. If that demand slows down, maybe people like us who actually want to live in the house can negotiate better deals.

Of course builders will try to control inventory and protect prices. But practically speaking, how do you negotiate with a builder in a market like this? What kind of discounts or deals are realistically possible?

I’ve heard of people getting very good deals during the COVID period. Curious to know how people negotiated in those situations.