After a significant correction last year, housing prices are likely to remain stable, or even witness a moderate hike in the coming months. “The sale of housing units rose across top cities in India in the first quarter of 2021 to nearly 1 lakh versus 87,000 in Quarter 1 of 2020. The continued increase in sales indicates that demand and customer confidence has returned to the market due to low home loan interest rates and higher affinity towards bigger homes” said a CMD of realty firm. Prices will tend to tick upwards with the raw material prices going up and as the market gains momentum said, Deputy Managing Director of a conglomerate that specialises in affordable housing. “Some markets have witnessed a minimal increase ranging between 1-3 per cent.”

 

However, the second Covid-19 wave has broken the momentum. Director at a property consultant firm, said that on an average, there has been an increase in prices by 3 per cent against the previous quarter. “In the coming months, the prices are expected to be relatively range-bound,” he said.

 

Source: https://www.newindianexpress.com/