Housing Sector: In the last few years, there has been a continuous increase in the number of home buyers. The interest in buying big and luxury houses has also increased among people. But, on the contrary, during July-September, a big decline has been recorded in the sales of houses. During this period, 1.07 lakh houses have been sold in 7 big cities of the country. In the same period last year, this figure was around 1.2 lakh. There has been a decline of about 11 percent in the sales of houses. Rising house prices and monsoon are being held responsible for this.
Now developers have big expectations from the festive season
According to Enrock’s report, this decline in these top 7 cities is shocking. Every year the sale of houses increases in Mumbai area during Ganeshotsav. But, this time it did not happen. The report claims that at present buyers have become cautious due to the rapidly increasing prices of houses. He is in favor of postponing his decision for some time and waiting. However, developers have high expectations from the festive season in October. They believe that there may be a surge in home sales again during Navratri, Dussehra and Diwali. After this, the sale of houses is expected to increase till Christmas.
House rates increased by about 37 percent in two years
According to the report, only about 1.07 lakh houses were sold between July to September in Mumbai Metropolitan Area, NCR, Kolkata, Chennai, Bengaluru, Pune and Hyderabad. In these three months of the year 2023, this figure was 1.2 lakh. According to Enrock Chairman Anuj Puri, house prices have increased rapidly in the last two years. Due to this, these houses are becoming far away from the budget of the people. People have come into the mood to wait instead of paying such a price. The average price of houses has increased by about 23 percent in just one year. If compared with the year 2022, this figure becomes around 37 percent. Since prices are now at record high, investors are also staying away from real estate.
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