Will house prices continue to rise in 2022?
Will house prices continue to rise in 2022?
Will house prices continue to rise in 2022? Everyone thinks about it. In the midst of ever-increasing inflation, after petrol-diesel and edible oil, now more pockets will have to be loosened to buy a house.
Housing prices have increased by 3 to 7 percent in eight major cities of the country. Prices have increased in these cities due to the increase in the prices of raw materials like cement and steel.
PropTiger.com said in its report ‘Real Insight Residential-Annual Round-up 2021 Report that in the last year i.e. 2021, the prices of houses in Ahmedabad and Hyderabad have jumped up to 7 percent.
This was followed by 6 percent growth in Bangalore, 3 percent in Pune, and 4 percent in Mumbai. In Delhi-NCR, Kolkata, and Chennai, the price of houses has increased by up to 5 percent.
13% jump in housing sales
During this period, there was a 13 percent increase in the sale of houses in these eight major cities of the country. A total of 2,05,936 houses were sold in these cities in 2021.
In the last year i.e. 2020, the sales figure was 1,82,639. The report said that compared to 2020, there was also a sharp increase in new supplies in 2021, and this figure increased by 75 percent to 2.14 lakh units from 1.22 lakh units.
Help from government support and low-interest rate
According to the report, this increase was seen due to the government’s support measures, better consumer sentiment, and stable prices after the coronavirus epidemic.
Dhruv Agarwal, Group Chief Executive Officer (CEO), Housing.com, Makaan.com, and PropTiger.com, said that the real estate market in India has made a rapid comeback.
Due to the support of the government next and the low-interest rate, the momentum in this sector will remain intact. He said that this year also the real estate market is expected to boom.
