Property Prices in India Are Expected to Rise at Their Quickest Rate in Five Years

Property Prices in India Are Expected to Rise
Property Prices in India Are Expected to Rise

According to a Reuters survey of property analysts, Indian house prices are projected to rise at a rate not seen in half a decade this year, but increasing borrowing rates will constrain affordability, especially for first-time buyers.

In comparison to other foreign markets that soared higher as families hurried to buy extra living space, India’s property market remained relatively quiet during the epidemic due to a lack of demand. Those markets are now beginning to cool.

However, as most employees return to work with improved vaccination rates and fewer COVID-19 instances, India’s property market has sparked, as has the return of huge institutional investors.

According to a May 11-27 Reuters survey of 13 property analysts, home prices are predicted to rise 7.5 percent countrywide this year, the strongest gain in five years, up from 5.0 percent expected in a March poll. The average house price is expected to grow 6.0 percent next year and 6.0 percent in 2024.