Huge drop in house sales, skyrocketing rates!!!
Huge drop in house sales, skyrocketing rates!!!
In the last few years, the number of home buyers has increased continuously. People's interest in buying big and luxury houses has also increased. But, in contrast to this, a big drop in house sales has been recorded during July-September. During this period, 1.07 lakh houses have been sold in 7 big cities of the country. Last year, this figure was around 1.2 lakh in the same period. There has been a decline of about 11 percent in the sale of houses. The rising price of houses and monsoon are being blamed for this.
Now developers have big expectations from the festive season
According to Anarock's report, this decline in these top 7 cities is surprising. Every year during Ganeshotsav, house sales in mumbai area increase. But, this time it did not happen. The report claims that at present buyers have become cautious due to the rapidly increasing price of houses. They are in favor of postponing their decision for some time and waiting. However, developers have high hopes from the festive season in October. They believe that there may be a surge in home sales again during Navratri, Dusshera and Diwali. After this, home sales are expected to increase till Christmas.
house rates increased by about 37 percent in two years
According to the report, only about 1.07 lakh houses were sold in mumbai Metropolitan Area, NCR, Kolkata, Chennai, Bengaluru, pune and hyderabad during July to September. This figure was 1.2 lakh in these three months of the year 2023. According to Anuj Puri, Chairman of Anarock, the price of houses has increased rapidly in the last two years. Due to this, these houses are becoming far away from the budget of the people. people are in the mood to wait instead of paying such a price. In just one year, the average price of houses has increased by about 23 percent. If compared to the year 2022, this figure becomes around 37 percent. Since the prices are now at a record high, investors are also keeping away from real estate.