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Home truths: High loan rates and job losses threaten price growth

But if rate cuts begin and layoffs are limited, the housing market could repeat FY23 showing next fiscal

Home Loan
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Sanjay Kumar Singh

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The residential real estate segment saw an average increase of 8 per cent in housing prices across the top seven cities over the past year, according to data from ANAROCK. However, the coming year may see a deceleration in the pace of price growth due to several headwinds.

Strong demand amid cost pressures

The price surge seen in the 2022-23 financial year (FY23) can be attributed to a multitude of factors. “Rising costs of inputs such as cement, steel, etc. — along with higher construction costs over the past fiscal year — compelled developers to increase prices,” says Anuj Puri, chairman, ANAROCK

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First Published: Mar 28 2023 | 7:41 PM IST

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