Plan to buy a house..? Buy it soon..!?

The report indicated that about 58% of builders plan to increase house prices in 2023. This is due to the continued increase in capital expenditure and several economic factors in the slowdown. Inflation has also remained subdued. The global supply chain has been facing inflationary pressures for the last two years amid continued capital expenditure increases. Meanwhile, a survey conducted among real estate developers (Colliers-CREDAI-Liases Foras) found that in 2023, 43% of developers saw a 10-20% increase in the cost of their projects due to increased capital expenditure.
341 real estate developers from different parts of the country participated in this study. Another interesting thing has been revealed in this study. 43% of developers expect housing demand to remain stable this year. At the same time, 31% believe that demand could increase by up to 25%. While demand was huge in the previous year, sales were at an all-time high. This is probably the most in the last decade. Meanwhile, more than 70% of developers expect housing demand to increase by 25% this year.Amidst such expectations, 87% of developers said that they plan to make offers to face the competition as new projects continue to increase. Property values are also rising amid the ever-increasing population. And urbanization continues to increase. It continues to promote the real estate sector. More incentives are expected. Meanwhile, 40% of developers are expecting incentives from the government in the upcoming budget to further facilitate their business. 31% expect tax exemptions and concessions in GST. It was only last year that the real estate business recovered after the arrival of Corona. However, due to the current international recession, there is a fear that it may have an impact on india as well. This has further implications.In addition, the interest rate for loans in banks is also at its peak, which will have an impact on real estate development in India. This has further impacted the market. So in such a challenging period, developers are planning to increase the price of houses. This may further lead to reduced sales. Either way, this could be a tough year for those planning to buy a home or property.

మరింత సమాచారం తెలుసుకోండి:

buy a house soon

Sowmiya Sriram

17/01/2023 09:59 PM