Key Points
Housing prices have continued to rise across top cities in India led by robust growth in residential sales momentum despite higher mortgage rates..
Prices rose around 8 per cent from a year ago during the quarter ended March on the back of a consistent demand pattern, showed a CREDAI-Colliers-Liases Foras report...
As the interest rates are now expected to have peaked, a pause in the rising repo rate paired with healthy domestic economic outlook is expected to keep the market sentiment upbeat, the joint report said...
According to him, despite the rise in housing prices, which is primarily owing to rising raw material costs and this consistent demand, the strong momentum is expected to continue as consumers have shown a clear appetite to buy new, bigger houses with better amenities-especially in the post pandemic era...
The top eight cities continued to witness a rise in new launches, as developers planned to tap the rising demand, owing to which the overall unsold inventory rose 12 per cent from a year ago...
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