Top trends for house buyers to be aware of as mortgage rates rise!
Housing sales continue to be strong throughout the top towns despite price increases by builders and a 100 bps repo rate hike by the RBI recently because qualified buyers are moving forward to close the purchase, according to Santhosh Kumar, Vice Chairman of Anarock Group.
Even throughout the current holiday season, the housing income trend has persisted. Here are a few top trends you should be aware of in light of rising hobby costs if you’re planning to e-book a new house or apartment:
1. Following the epidemic, home ownership will take primacy.
Homeownership has become a crucial priority during the epidemic, and this trend has persisted. Home prices have all started to rise, and clients are looking to invest in assets that will increase in value.
2. Home mortgage costs continue to decline
Despite four consecutive rate increases implemented by the RBI, interest rates continue to be lower than they were during the global financial crisis of 2008 when they reached 12% and higher.
3. There is a high demand for Grade A projects
Due to high hobby fees, Grade A (large and indexed) builders are reporting high income despite a fee increase, and they have also increased their fresh supply into the market. Given that the demand from consumers is heavily weighted toward large and indexed builders, Kumar predicts that revenue will remain stable over the current holiday quarter.
4. Right now is the best moment to look for a home
Nearly all economies continue to suffer from inflation, and India is no different. Since no indication of a global economic slowdown has been made, the 50 Bp increase announced by the RBI earlier this month was largely anticipated. “Inflation should also present a threat to the economic strategy in December, and the RBI maybe need to take some action.” So, it’s quite okay to look for a domestic right now,” adds Kumar.
5. The affordability of housing has increased.
Last but not least, during the past eight years, home affordability has improved. It achieved several of the high levels last fiscal year and is still quite alluring. This must increase end-user demand in important categories, including low- and middle-income consumers.
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