Nearly 50% homebuyers expect property prices to increase: Report
Pratigya Yadav | New Delhi
Real estate remains India’s preferred asset class with nearly 50 per cent of customers expecting prices to increase and the economy to grow, said a survey’s report on Monday.
The survey by Housing.com and National Real Estate Development Council (NAREDCO) found that 47 per cent of respondents prefer to invest in real estate. As many as 21 per cent of respondents prefer to invest in the stock market, 16 percent in fixed deposits and 15 per cent in gold. It found that 48 percent of respondents anticipate real estate prices to rise.
“The residential markets across India remain upbeat despite growing concerns about rising interest rates. The stronger sales momentum anticipated in the coming months and quarters stems from the fact that property remains the best asset class as the latest Consumer Sentiment Outlook (Jul-Dec 2022) suggests that real estate has remained a favourite asset class among potential buyers,” said Rajan Bandelkar, president of NAREDCO. People's desire to own a home and their goal for financial security has strengthened housing sales over the past two years.