Mumbai, 8th August 2023: The pandemic has been an indubitable boon for the previously lacklustre luxury homes segment, with sales and new supply increasing manifold since then. Prices were bound to catch up with the demand. On analysing the average price trends in the top 7 cities across different budget segments, ANAROCK Research data reveals that
Mumbai, 2 August 2023: In the Indian residential real estate market, affordable housing suffered the greatest impact of the Covid-19 pandemic – and unlike the other segments, has not recovered in the last two years. With buyers of this segment increasingly desisting from purchase decisions, affordable housing sales are languishing, and developers have accordingly curtailed its
Mumbai, 23 July 2023: While the Indian luxury homes segment is firing on all cylinders, affordable housing continues to languish due to pandemic-induced demand changes and various other factors. Both supply and demand for affordable housing is shrinking, finds latest ANAROCK Research data. Anuj Puri, Chairman – ANAROCK Group, says, “The total sales share of this
India and the rest of the world came to a literal standstill with Covid-19 in 2020, and the brief recovery thereafter was followed by the Russia-Ukraine war – which has negatively reset the whole world’s economic barometer. Next came the bursting of a tech boom bubble created by the Covid-19 pandemic, with mass layoffs at
Affordable housing is about providing decent homes at low prices that are within reach of lower- and lower-middle-income buyers. There are many definitions of affordable housing, but the government defines it as homes with a carpet area of up to 60 square meters. A house must cost no more than Rs. 45 lakh to be
Mumbai, 30 January 2023: India’s residential real estate sector looks hopefully to Budget 2023-24 to boost the country’s flagging affordable housing segment. The segment had revived after the government began to roll out incentives from 2015 and became ‘respectable’ with both buyers and developers. However, the pandemic seriously impacted the affordable housing segment, with both demand
It is an established fact that the real estate industry is the heart that drives a country’s economic progress. A relatively new fact is that affordable housing is the oxygen that can keep the sector running. As suggested in the name, affordable housing generally refers to housing that is deemed reasonably priced for those with a household
Approx. 25,680 luxury homes (units priced >1.5 Cr) were sold across the top 7 Indian cities in H1 2022, against 17,740 units in 2019; in H1 2022 itself, sales exceed those in entire 2019 MMR saw the highest luxury home sales – over 13,670 units sold in H1 2022, followed by NCR with 4,160 units
What comes to mind when we speak of inflation and its impact on real estate especially on housing demand? Real estate is not a commodity like rice or petrol, which immediately reacts to inflationary trends. Yet, it is an accepted fact that inflation negatively impacts property prices. Most people imagine inflation and its effect on
As of Q1 2022-end, the total available stock of affordable housing (<INR 40 lakh) in the top 7 cities is approx. 1,86,150 units; 2,34,600 units at Q1 2020-end Chennai, Pune & MMR saw the highest supply decline of 52%, 33% & 27%, respectively Supply of ultra-luxury homes (>INR 2.5 Cr) declined 5% in the same
