Page 4 - Housing Market

India's housing market to continue with high demand, growth in 2024

India's housing market defied logic this year to register all-time high sales as home buyers snapped up deals despite a jump in asking prices and the highest interest rates in six years. Market experts strongly believe the demand will not only sustain in 2024 but rise further, albeit at a slower pace, on high economic growth and expectations of a fall in home loan interest rate. The real estate industry saw record sales of residential properties in terms of both volumes and value, real estate market data showed as consumers are increasingly buying into the idea of home ownership post-Covid pandemic. The ouster of dubious developers from the real estate market thanks to greater regulatory oversight via RERA helped boost confidence among home buyers. The insolvency law too has played a role in elimination of defaulting builders. According to real estate consultant Anarock, housing sales are estimated to rise by 30 per cent this year to a record 4.74 lakh units in primary (fresh sales

Proptech startup HouseEazy raises $1 million from investors as seed funding

HouseEazy, a vertical marketplace for resale homes, on Tuesday said it has raised USD 1 million (over Rs 8 crore) from investors as seed funding led by Antler. Other notable investors in the round include India Accelerator, AC Ventures, Agility Ventures, Finvolve Ventures and industry veterans like Pirojsha Godrej (Executive Chairperson at Godrej Properties) and Sandeep Aggarwal (Founder at Droom), the company said in a statement. Seeking to bring trust, transparency and convenience to secondary real estate transactions, HouseEazy is building a full-stack, data-driven technology platform to provide the best prices and instant liquidity to sellers and title-checked, refurbished, ready-to-move-in homes to buyers. HouseEazy founders Tarun Sainani and Deepak Bhatia, who previously worked together at Godrej Properties, bring over 25 years of combined experience in the real estate industry. According to Housing.com data, proptech companies have received USD 4 billion in funding since 200

'Indian real estate most preferred in Asia-Pacific for global investors'

Colliers data also shows institutional investment in real estate soared 27 per cent year-on-year in the first nine months of 2023

China plans to allocate $137 bn of new funds to aid housing market

The outstanding amount of funds lent through the PSL program stood at 2.9 trillion yuan as of October.

US 30-year fixed mortgage rate jumps to near 21-year high, shows data

The average 15-year rate also jumped to 6.46 per cent. It was up from 6.34 per cent the week prior and was also the highest level since April 2002

China's housing slump much worse than data shows amid tepid growth

New-home prices have slipped just 2.4 per cent from a high in August 2021, government figures show, while those for existing homes have dropped 6 per cent

China's economic stress deepen with property market slump: Report

Official data on Tuesday will likely show modest gains in industrial output, retail sales, fixed-assets investment in July from year ago, although growth rates are still well below pre-pandemic level

China suffers new blow as exports see biggest drop in three years

China's economic recovery this year was expected to be buoyed by strong domestic demand, but a housing market slump has hit construction while consumption growth is slowing

Assess your affordability before purchasing amid housing market buoyancy

People in sectors witnessing layoffs should be especially cautious

Housing prices see 7% rise during Q1 of 2023 in top 14 cities: Report

The growth in the Indian residential market between January-March 2023 was driven by several factors, including infrastructure growth, government policies, and robust launches

Unsold housing stock falls 12% in last 5 yrs to 627,000 units: Anarock

With a significant rise in housing sales post-COVID, real estate consultant Anarock has said unsold homes with developers across seven major cities fell 12 pc in the last five years, and time needed to clear these inventories have come down by half to just 20 months. In its latest report, Anarock said unsold housing stocks have declined 12 per cent to 6,26,750 units at the end of January-March this year from 7,13,400 units as of March 31, 2018. More importantly, Anarock said, inventory overhang (estimated time developers need to clear unsold inventories at current sales velocity) fell to 20 months from 42 months at the end of March 2018. An inventory overhang of 18-24 months is normally considered healthy. Anarock Chairman Anuj Puri attributed the drop in unsold stocks and inventory overhang to a surge in housing sales. In Q1 of 2023, the top 7 cities recorded all-time high sales of more than 1.14 lakh units. "Strong home-ownership sentiment, relatively lower home loan rates, str

India housing market to remain resilient despite higher rates: Poll

A major source of employment in a country of 1.4 billion people where a majority are unskilled, the Indian housing market is likely to remain a stable contributor to economic activity in India

Global property market sitting on a $175 bn debt time bomb as slump spreads

As the toll from higher interest rates and the end of easy money mounts, many real estate markets are almost frozen with some lenders telling borrowers to sell assets or risk foreclosure

Australia's housing prices mark largest annual decline of 5.3% since 2008

According to the report, despite the downturn across many areas of the country, housing values generally remain 11.7% above where they were at the onset of the Covid-19 pandemic

Ahmedabad, Kolkata & Pune most affordable housing markets in 2022: Report

Despite showing the maximum improvement since 2011, Mumbai was the least affordable city in India in 2022: Knight Frank

Future sentiment score hints a decline in housing market momentum in Q4

The Current sentiment score has declined marginally from 62 in the second quarter of 2022 to 61 in the third quarter of 2022.

What NRIs on short visits to India must consider before buying property

They should hire a property consultancy or a lawyer to do due diligence on their behalf

HDFC corners 15% of CLSS housing market with Rs 67,000 crore loans

With over Rs 7,200 crore in subsidy disbursals, the largest pure-play mortgage lender HDFC has cornered over 15 per cent of the credit-linked subsidy scheme for affordable housing since its launch in June 2016. The 45-year-old Corporation, which is awaiting a reverse merger with its subsidiary HDFC Bank, has also won the best housing finance company award from the government for this for the third time this year. Its Managing director Renu Sud Karnad said they have over 3.13 lakh credit linked subsidy scheme (CLSS) customers, who have cumulatively borrowed more than Rs 67,000 crore from them since the launch of the plan under the Pradhan Mantri Awas Yojana (PMAY). These customers have received more than Rs 7,200 crore in subsidies, which is a tad over 15 per cent of the total subsidy of Rs 48,250 crore given by the government. The corporation has been awarded the best performing housing finance company under the CLSS and the same was given away by Union Housing Minister Hardeep Sin

Bengaluru fourth most expensive real estate market in India: Knight Frank

Bengaluru's affordable housing market has become more costly due to the 50 bps hike in the repo rate by the RBI

Bursting housing bubble of China will rock the economy for years to come

While many economists say China's crippling housing downturn won't get much worse and that the stimulus will kick in this year or next, the reality on the ground for sellers like Echo is much bleaker