People are buying houses in large numbers, demand will increase further in the festive season
Buying your own home is a dream for everyone. To make this dream a reality, there has been a huge increase in property prices in the past few years. After Covid 19, a new trend has been seen in the real estate sector. People now want to buy bigger houses. The festive season is also about to begin in India. During this time, people buy houses in large numbers. It has been revealed through a report that the demand for housing will also increase in this festive season.
Revealed in the report.
As the festive season is about to kick off in full swing in India, Housing.com is expecting further growth in the market. Developers across the country are fully geared up to make the most of this seasonal surge in demand. For this, they have started attracting investors and homebuyers with offers like attractive festive deals, easy payment systems, and new project launches.
According to Housing.com’s Masladan, the combination of pent-up demand, festive auspices and significant developer offerings is creating a perfect storm of opportunities in the residential real estate market. We expect the trend of increased search activity to translate into stronger sales figures as we move towards the festive season.
Overall, the index results indicate that despite rising prices, India’s real estate market is expected to end 2024 on a strong note, driven primarily by strong sales during the festive season and a surge in new project launches.
Prices rose by 10 percent
According to data from Housing.com, property prices in most residential markets have seen an increase of more than 10 percent in the last one year. Moreover, consumer confidence in India remains strong. According to investment firm Jefferies, government capital investment has tripled in the last five years. Now, with the support of the government, the private sector is also rapidly increasing capital investment. In such a situation, India’s real estate sector will grow at a compound annual growth rate (CAGR) of 10 percent in the next 3 to 5 years.
