Housing Demand To Rise: The year 2022-23 is going to be great for the Indian real estate sector. Housing demand is going to be tremendous in 2022-23 like 2021-22. This is to say of India Ratings and Research (Ind-Ra). The rating agency has improved the outlook for residential real estate.
The rating agency has said in its report that due to the impact of the epidemic, the impact of the industry and the better policy of the government, the real estate sector is expected to have better demand in 2022-23. The housing sector has been successful in regaining the confidence of home buyers in the last financial year. The rating agency believes that due to strong demand in 2022-23, the housing sector will continue to grow. According to the agency, there is a possibility of a 12 percent jump in housing sales in 2022-23.
According to the rating agency, in the top eight real estate clusters of the country, there has been a jump of 42 percent in housing sales in 2021-22. At the same time, in 2022-23, the affordable housing segment can account for 50 percent of the total sales.
India Ratings and Research (Ind-Ra) believes that the demand in the current housing sector is from end users and not middlemen. The agency believes that there was an increase of 6 percent in 2021-22 and this year also the price may increase. According to the rating agency, cheap home loans are also responsible for the increase in housing sales. Banks have given the benefit of cheap loans to home buyers. Due to the increasing income of people with cheap home loans, the ability of people to buy houses has increased, which is benefiting the sector.