Tuesday, June 6, 2023

“The rate hikes by RBI won’t have a significant impact on the homebuying sentiment. However, the central bank has been on a rate-hiking journey in order to tame the rising inflationary pressures. Understanding this even homebuyers are aware of the fact that these rates were transient and unsustainable.

They were expecting the hike and are thus prepared for it. Several banks have already started passing the burden to home loan borrowers. However, we have seen significant demand from homebuyers despite the increased interest rates.

We expect the demand to sustain, considering the necessity to own a home is of profound importance today. 2022 has favored the luxury housing segment, the homebuyers deliberately grabbed the opportunity of festive offers and sealed the deal. Similarly, with the consumers being confident about the economy, the real estate sector will register a remarkable year end, setting an example for 2023.”