The Anarock report shows that 2.73 million properties were sold from January to September of this year. Compared to the same period in 2021, sales are up 87 percent this year. Demand for large homes remains higher than ever.
There is a boom in demand for real estate
Despite inflation and high interest rates real estate There is a boom in demand for real estate. The Anarock report states that 2.73 properties were sold between January and September 2022, and the trend continues. This year, Mumbai Capital Region (MMR), Bangalore, Pune, Hyderabad and Delhi-NCR are the most preferred destinations where people buy property. The name of these places is most prominent in the housing market. New real estate projects are being launched in these places, as well as home sales are most often observed.
If you look at the score of the last 9 months, despite inflation and expensive mortgages, people are investing in real estate with full readiness. There was a slight weakness in the Corona epidemic as lockdowns were in effect throughout the country. But after the impact of the epidemic subsides and restrictions such as lockdowns are lifted, the real estate industry is seeing a huge boom. The demand for large houses is especially growing. During the holiday season, the sale of homes or other property is likely to boom.
what the report says
There is a message that cement prices may increase in the near future, which is why there is a possibility of an increase in construction costs. Its big impact will be seen on real estate and real estate prices could rise. Because of this opportunity, people want to make a purchase in advance. Now that rates are coming down, people want to take advantage of this opportunity. Rahul Purohit, National Head of Sales for Square Yards, told Business Insider India that the rainy season has also been good this time around, leading to an all-time holiday season and record property sales.
The Anarock report shows that 2.73 million properties were sold from January to September of this year. Compared to the same period in 2021, sales are up 87 percent this year. Rahul Purohit says that inflation and high interest rates have not dampened people’s desire to own homes, and property purchases are received positively throughout the country.
Growing demand for large houses
Even after the epidemic subsides, the work-from-home culture persists. Because of this, people want to purchase larger houses such as 2-room and 3-room houses. People now want bigger houses because more space is needed than before. In the middle and premium segments, people of the first choice are ready to move. In such houses there is more space and there are health-improving complexes. It is said that this holiday season, property sales and demand could even exceed pre-Corona levels.