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As per ICICI Securities, there has been a notable deceleration in significant leasing decisions since January 2023. This slowdown can be attributed to global macro headwinds, including the rise in interest rates and a slowdown in hiring by technology multinational corporations (MNCs), which account for 67% of the demand for office space in India.
Even though the interest rates in India are expected to stay higher for longer than previously thought, the housing prices in India are set to hold above consumer inflation, according to a Reuters poll of property analysts. The demand in the real estate market rose amid a surge in savings and minimal income disruption to cash-rich home buyers during the pandemic and this made the market more resilient to interest rates than initially expected. -- aaa
A surge in savings and minimal income disruption to cash-rich home buyers during the pandemic led to a rise in demand that has made the market more resilient to interest rates than initially expected.
Home prices in India are set to hold above consumer inflation, even though interest rates are expected to stay higher for longer than previously thought, a Reuters poll of property analysts found.
The last few years have seen the emergence of a new class of homebuyers -- somewhere between an investor and an end-user – who is not interested in making a quick buck, but is in it for the long haul.