Residential demand picks up


Residential demand has picked up across the top eight cities, with both housing sales and new supply registering positive growth trend in the quarter ending April-June 2022.

According to Real Insight Residential – April-June 2022 report, a quarterly analysis of India’s top eight residential markets by REA backed PropTiger.com, the recent spike in property prices has had little impact on homebuyer sentiment as outlook towards overall economic scenario and income stability improve in the post-coronavirus pandemic phase.

The markets covered in the report include Ahmedabad, Bangalore, Chennai, Hyderabad, Kolkata, Mumbai Metropolitan Region, Delhi-National Capital Region, and Pune.

Even though the RBI increased the repo rate twice during the quarter to bring it to 4.90%, home loans remained largely affordable for the period analysed.

The biggest booster to housing demand has been the increased importance of owning a property which has been further backed by the consumer confidence in the overall economic scenario and impending income stability, said Vikas Wadhawan, Group CFO, Housing.com & Makaan.com.