2022 marks the return of Real Estate investors: Akash Pharande
- Jun 03, 2022, 12.45 PM
- DealMoney News Service
The pandemic had brought in an urgency to purchase homes, causing housing demand to hit a peak that lasted over 2 years and however, late realty stocks have been under performing, developers are increasing their property rates, and home loan interest rates have begun to increase, according to Akash Pharande, Managing Director - Pharande Spaces.
According to a recent report by a leading real estate consultant, quarterly housing sales in Q1 2022 had hit an all-time high since 2015 - the main 7 cities of India alone sold over 99,500 homes.
Pharande added that IT sector is a major driver of the economy - and housing demand - in cities like Bengaluru, Pune, Hyderabad, Chennai, and several tier 2 and tier 3 cities.
"For several years, real estate investors had been discouraged by the lack of upward movement in property prices and abstained from the housing sector, instead preferring commercial real estate. Now, especially after RERA has cleaned up the housing sector, they are once again turning their attention to housing," added Pharande.
One of the biggest incentives for investors is that housing prices have started rising after remaining flat for over 4 years, added Pharande.