Festive Realty Top Ten Trends to Drive Home Sales
The post-covid residential sales momentum is set to get a further boost in this festive season, notwithstanding headwinds in the form of rising interest rates and increase in home prices. Here are the Top 10 trends that will help drive festive home demand. Vinod Behl
The optimism regarding jump in home demand and sales during the festive season stems from the fact that residential sales have grown by 60% to 1,58,705 units in the first half of 2022 across 8 top cities. This surge in home sales has happened despite RBI driven hikes in interest rates.
Home Ownership
One dominant trend/factor responsible for sharp pick-up in-home sales is the growing preference of home seekers for home buying to home renting. This is largely because the covid pandemic brought to the fore the significance of privacy, health, safety, and wellness. Home seekers in bustling IT/ITeS hubs of Mumbai and Bengaluru have been especially opting for home buying due to the high cost of rental living. Prospective home buyers in Delhi-NCR, Hyderabad have also shown increased preference for home ownership as rent EMIs are higher than home loan EMIs.
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NBM&CW October 2022
