Go ahead with house purchase in 2023 despite high loan rates

By the time interest rates moderate, prices could move higher

The housing market revived in 2022 after a long period of stagnation. As sales rose, prices moved up, albeit at a sedate pace. The positive momentum is expected to continue in 2023.

Decisive revival

Housing sales in the top seven cities scaled a new peak of 364,900 units in 2022, up 54 per cent year-on-year (Y-o-Y), according to ANAROCK Research. Sales surpassed the previous peak of 3.43 lakh units seen in 2014.

Prices, too, moved up. The current average price across the country’s top seven cities is Rs 5,991 per sq. ft, up 8 per cent over