Due to strong demand, house prices in the country are increasing rapidly. In the last two years, houses in the country have become expensive by 20 percent. In such a situation, it is becoming difficult for common people to fulfill their dream of owning a house. However, figures show that despite the huge increase in prices, the demand for houses remains strong.
According to the Housing Price Tracker report of CREDAI and Colliers – Liases Foras, during 2021 to 2023. An increase of 20 percent was recorded in house prices. The report shows that the reason for this 20 percent increase in house prices in two years is the significant increase in demand.
House prices increased the most in Bengaluru
According to the report. According to this, house prices in the top 8 cities of the country have increased by about 20 percent between 2021 and 2023. House prices have increased the most during this period in Bengaluru, Delhi NCR and Kolkata. In these three cities, houses have become expensive by about 30 percent in the last two years. The highest increase of 31 percent has come in Bengaluru. Talking only about 2023, house prices in the top-8 cities have increased by 9 percent on an annual basis.
Sharp decline in unsold inventory
House prices have increased in the last few years. Many reasons are responsible for this rise. The report says that the confidence of home buyers remains strong. At the same time, interest rates are favorable and the economic outlook is positive. Due to these reasons, housing demand remains strong and ultimately house prices are increasing in all major cities. Due to this demand, unsold inventory is decreasing rapidly. According to the report, the unsold inventory in Delhi NCR has declined the most by 19 percent during 2021 to 2023.
People's focus is increasing on new projects
A fresh product from Anarock The report also reveals the confidence of home buyers in the country. This report shows that last year about 4.77 lakh units were sold in the top-7 cities of the country, of which more than 40 percent were new launches. Four years ago this figure was much less. Of the 2.61 lakh houses sold in 2019, the share of new launches was only 26 percent. The report says that the increasing dominance of branded developers in residential real estate has increased customer confidence. Due to this, the focus of home buyers is shifting from ready-to-move or almost ready housing units to new launches."Warren Buffet has more cash than the total value of India's largest bank." href="https://www.abplive.com/business/warren-buffet-have-more-cash-than-value-of-indias-largest-bank-and-biggest-firms-2625048" target="_blank" rel="noopener">Warren Buffet has more cash than the total value of India's largest bank.
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