Status quo on rates will keep RE sales momentum
Maintaining the status quo on interest rates is likely to support ongoing momentum in real estate sales, boosting buyer sentiment and market stability.
Status quo on rates will keep RE sales momentum
Mumbai, Aug 06
Status quo will keep the ongoing residential real estate sales momentum, feel experts.
The residential real estate sector has adapted to the prevailing interest rate environment and continues to show robust performance. The growth trajectory of the realty sector remains positive, and more and more people are investing in the mid, premium, and luxury segment. The housing sector has already been benefiting from the cumulative 100 bps cut in the repo rate, as reflected in the rising consumer demand driven by lower home loan interest rates.
Ramani Sastri, Chairman and MD, Sterling Developers says, “As the festive season approaches, we were looking for a rate cut which would have definitely boosted affordability further and investments in the real estate sector as stability in interest rates provides confidence to both homebuyers and developers.”
However, the decision to maintain status quo will keep the ongoing residential real estate sales momentum on course, offering homebuyers assurance of steady loan terms, he said.
With sustained demand, we believe that the sector’s growth momentum will definitely accelerate further with continued policy support, firmly establishing the real estate sector as a key driver of the nation's economic development.
EoM.
