Luxury property frenzy set to drive up home prices in India: Poll

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Luxury property frenzy set to drive up home prices in India: Poll - Business Standard

Quick Summary:

Even after the Reserve Bank of India (RBI) raised interest rates by 250 basis points from May 2022 to Feb.2023, India's housing market trends barely moved.

This maintains a seemingly unstoppable growth curve while affordable housing continues to bleed," said Anuj Puri, chairman at ANAROCK Property Consultants."Tellingly, there was no new affordable supply.

When asked what will happen to affordability for first time home buyers over the coming year, property market experts were nearly split, with 10 saying it would improve and eight saying worsen."First we have to agree this market is not for everyone.