Steep price rise creating housing bubble; affordable price cap revision due: Housing.com CEO | businesstoday.in
Steep price rise over the past three years, post-pandemic, in the housing market is now creating a bubble that has a downside risk of driving away a section of the potential homebuyers, cautions Dhruv Agarwala, Group Chief Executive Officer, Housing.com, PropTiger.com. Since the second wave of the COVID pandemic receded in mid-2021, property prices have been rising steadily. The price rise has been steep in the residential real estate market as potential homebuyers and fence sitters joined the market to purchase their dream homes. A section of the affluent consumers also enthusiastically purchased second homes or invested into housing market as prices started to grow after many years.
