Higher mortgage rates will have a lower impact on the Indian housing market than in the US market, said Kotak Institutional Equities (KIE)
The RBI's decision to hike the benchmark interest rate will make home loans costlier and affect housing sales, especially in affordable and mid-income segments, according to property consultants.
Housing sales: Make it presentable, clear off dues, and have documents ready before you meet potential buyers
Last week, two other consultants Anarock and PropTiger released their data for residential markets
Approximately 99,550 units sold across the top 7 cities in Q4, according to data from real estate consulting firm
Housing sales increased by 7 per cent year-on-year to 70,623 units during January-March across eight major cities on better demand driven by very low-interest rates on home loans
The contribution of affordable housing, priced up to Rs 45 lakh, in total housing sales during 2021 declined to 43 per cent from 48 per cent in the previous year
The Hyderabad residential market includes four districts of Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy
Housing sales are expected to remain strong during this current quarter and there will not be any major impact on demand from the fresh wave of the COVID-19 pandemic, according to industry experts. Many states imposed restrictions like weekend curfew to curb the spread of the Omicron variant of coronavirus, affecting visits of prospecting customers to project sites. However, real estate developers and consultants said there was a minor impact in the first two weeks and sales enquiries are strong. "The impact of Omicron on housing sales is not expected to be significant as compared to the last two waves," Anarock Chairman Anuj Puri told PTI. Anarock is one of the leading housing brokerage firms in the country. "Unlike the last two waves, we have not had a complete lockdown and mobility has not been severely impacted. The sentiments have remained broadly positive as the fatality rate has been very low and so has the hospitalisation rate," he observed. Though the weekend lockdowns i
Housing sales across top eight cities rose 51 per cent last year, even as the office market continued to slump due to the COVID pandemic with gross leasing witnessing a 3 per cent fall
The demand fell short of pre-Covid levels
Housing sales are likely to reach pre-Covid level in the next year while rates may appreciate by 5-10% during 2022, according to property consultant Anarock.
The DDA will offer nearly 15,000 flats in its new housing scheme, officials said on Wednesday.
During the 2020 calendar year, sales had plunged 47 per cent to 1,82,639 units from 347,586 units in 2019, mainly because of strict nationwide lockdowns imposed in March last year
New home sales jumped 14.0% to a seasonally adjusted annual rate of 800,000 units last month, the highest level since March
Housing sales across eight major cities registered an annual growth of 59% during July-September at 55,907 units, but demand jumped over three-fold against the previous quarter
Housing sales jumped over two-fold to 32,358 units during July-Sept period across 7 major cities as demand bounced back with unlocking of economic activities and lower Covid infections, according JLL
Mumbai Metropolitan Region or MMR accounted for 33 per cent of the total sales, followed by NCR with a 16 per cent share, Anarock said
Average property prices saw a 3 per cent yearly increase across the top 7 cities
The seven cities tracked by Anarock are Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Bengaluru, Hyderabad and Pune.