Affordable housing demand down to 26% in 2022, sector expects boost from Budget
IANS -
ANAROCK's Consumer Sentiment Survey finds that in 2022, demand for affordable housing has sunk precariously. In 2018, nearly 39 per cent property seekers in the top seven Indian cities were keen on affordable homes priced within Rs 40 lakh. This demand shrunk to its lowest levels in 2022, with just 26 per cent property seekers looking to buy in this budget segment.
Financial assistance for homebuyers needed to enable smoother home-buying experience
IANS -
"The rate hike of 35bps to 6.25 per cent by the Reserve Bank of India was on the expected lines. Although it will push the interest rates on home loans, and overall strong talent driven job markets, the coming quarter of 2022-23 remains the best time to invest in all segments of real estate. India's GDP growth forecast from 6.5 per cent to 6.9 per cent, shows a higher elasticity to global shocks and the continued buying power and investments made in the real estate sector, despite the possibility of more repo rate hikes in the coming months," he said.
Affordable Housing sales dip, luxury segment up
IANS -
Latest ANAROCK Research data finds that of nearly 1.84 lakh units sold in these cities in H1 2022, about 14 per cent (approx. 25,700 units) were in luxury homes. Contrastingly, of 2.61 lakh units sold in the whole of 2019, just 7 per cent (approx. 17,740 units) were in the luxury category. Mumbai metropolitan region (MMR) and NCR have led luxury homes sales with H1 2022 seeing nearly 17,830 units sold in these two cities alone. In 2019, they accounted for a mere 11,890 luxury homes sold in the entire year.
Home sales up 13% in 2021; Ahmedabad, Hyd chart leaders, says brokerage
IANS -
Real estate activity in India's leading markets intensified towards the second half of 2021, after a grim 18 months as the economy was consistently battered by multiple waves of the pandemic, the brokerage said. A much sharper growth was seen in terms of new supply in 2021 as against 2020. Accordingly, a total of 2.14 lakh units were launched in 2021 compared to 1.22 lakh units in the preceding year, with an increase of around 75 per cent.
India's 'Buy Now, Pay Later' segment poised to reach $56 bn by FY26
IANS -
The segment provides short-term financing to make immediate purchases and the credit can be paid back at a later date. "India's BNPL is at an inflexion point with rising ecommerce and digital P2M payments fuelling deferred payments. BNPL GMV is poised to exhibit 74 per cent CAGR and account for 5 per cent of digital P2M payments by FY26E," HDFC Securities said. "The proliferation of BNPL as a mode of credit-based payment is gaining significant traction, particularly amongst the millennials and Gen-Z population within a short span of time."
Housing sales exceeds new supply, black money deals down 75-80% post demonetisation
Newsmen Business Desk -
Despite the confusion and uncertainty immediately after demonetisation, the negative impact has receded after a major market derailment within the first year of its announcement. "In the pre-DeMo period, new supply outstripped housing sales - whereas, in the post-DeMo period, housing sales overtook new supply in the top 7 cities", said Anuj Puri, Chairman - ANAROCK Group said Puri.
India's furniture & home market to reach $40bn by 2026: Report
IANS -
Over the next five years, online furniture and home sales are expected to be growing at a strong 39 per cent CAGR. The online home category includes home decor, furnishings, mattresses and lighting. The online furniture category will foresee 3X growth in shoppers in the next five years with a 1.8x jump in annual spending per shopper.
Top 7 cities see 113% rise in housing sales in Q3 2021, new launches up 98%: Report
IANS -
As per the report, increased sales also improved new launches as it rose in the top 7 cities by 98 per cent yearly - from approximately 32,530 units in Q3 2020 to approximately 64,560 units in Q3 2021. While MMR continued to see the highest number of new launches (of approximately 16,510 units) in the quarter, Hyderabad was close behind with a new supply infusion of approximately 14,690 units.
India's housing market likely to reach new peak in 2023: Anarock
IANS -
The unprecedented rise in homeownership sentiment, faster adoption of technology and digital marketing, and innovative business practices have served to soften the overall impact of Covid-19 on the Indian residential sector. the unprecedented rise in homeownership sentiment, faster adoption of technology and digital marketing.
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