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Nearly 90 per cent of respondents feel that their decision to buy residential properties will be significantly impacted if mortgage rates exceed 9 per cent, according to a survey conducted by FICCI and Anarock. Industry body FICCI and real estate consultant Anarock on Friday released their joint 'Homebuyer Sentiment Survey', with a sample size of 7,615 people, at a real estate conference here. "In a recent survey, over 71 per cent of respondents indicated that their home-buying decisions would remain unaffected if rates stay below 8.5 per cent. However, if rates exceed 9 per cent, then it will have a significant impact on over 87 per cent of respondents. For rates between 8.5 per cent and 9 per cent, about 54 per cent expect a moderate influence on their choice," the report said. Among other findings, the survey found that real estate is the most preferred asset class for investment for over 59 per cent of respondents. The Indian residential market continues to be predominantly dri
Housing prices in China slumped in the first four months of the year, although factory output rose nearly 7%, according to data released Friday, as the country prepares to announce fresh measures to reinvigorate its ailing property industry. Officials of the National Bureau of Statistics acknowledged that domestic demand spending by consumers and businesses remained insufficient and said the government was considering further ways to revitalize the property industry after housing prices sank 9.8% in January-April from a year earlier. Liu Aihua, spokesperson for the bureau, said that in keeping with policies set by the Communist Party leadership, there was a need to find ways to balance supply and demand, meet public expectations for high-quality housing and seize the opportunity to build a new model of high-quality development of the real estate sector. The State Council, China's Cabinet, said it would hold a news conference later Friday focusing on the property industry. China's