Property Prices See Double-Digit Growth Amid Rising Demand This Festive Season

Keywords: Property prices, real estate market, India, housing affordability, RBI, interest rates

Despite rising property prices, developers are optimistic for strong sales in the festive season, with buyers eyeing both residential and commercial properties. A recent Property in India – Buy Properties in India, Real Estate Website for India Property report highlights that property prices across India’s top residential markets have shown double-digit growth in Q3 2024 compared to last year, driven by increasing construction costs and strong demand.

In addition to the price surge, the Reserve Bank of India’s (RBI) consistent stance on the repo rate, kept at 6.5% for ten consecutive policy meetings, has contributed to elevated borrowing costs for both developers and homebuyers. With interest rate cuts off the table for now, housing affordability remains a challenge.

However, developers are betting on festive demand with new projects and attractive deals, appealing to buyers’ aspirations for a “dream home.” As the season kicks off, the market will be closely watching how these factors impact sales volumes and the broader real estate landscape

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