Will property prices rise?

Now, the question ‘will property prices rise’ is confusing, as some say the real estate industry is withering away and others are saying that property prices will begin to grow in India. Things would have been normal if the pandemic never occurred and we led a normal life for the last two years. But after the pandemic, Britain received a hard blow alongside other important nations. The GDP has fallen and European countries have been hit by the recession. Experts are suggesting that soon America will enter into a recession as well. But what about India? 

Well, while other Nations are struggling India is doing well. In fact, experts suggest that India can escape this recession if things fall into place. So, where does the real estate industry stand in India now that we know that India can bloom during the most intensive period? When will property prices rise again?

The answer to this question would be now. Property prices are expected to rise by 7.5% on a pan-India basis this year. This is the fastest-growing hike India has seen in five years. The average price of a house can increase up to 6% next year and in 2024. 

There was a Reuters Poll held which suggested that prices in Mumbai and Delhi and surrounding areas can rise between  4% and 5%. Whereas property prices in Bangalore and Chennai can rise between Bengaluru and Chennai by 5.5%-6.5% in the next two years.

Experts also suggest that properties will be more affordable in the upcoming years. Since banks have dropped their interest rates and the government has come up with so many initiatives to help people get houses there is a craze to buy houses in India. 

With the rental prices skyrocketing in Bangalore and Mumbai people are also checking out alternate options to buy a home. So, to answer the question ‘when will property prices rise again in Delhi, Bangalore, Mumbai?’, the answer would be now more than ever!

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