A favourable wealth effect, driven by a sharp rise in the equity markets, is enticing many first-time homebuy ers to take the plunge, while affluent buyers are looking for second homes. If you are a fence-sitter, still unsure about when to buy a house, this market presents a big dilemma. Is it the right time to buy a house?
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Residential real estate in top Indian cities saw a 10% average price increase YoY in the Jan-Mar quarter, driven by strong demand. Bengaluru, Delhi NCR, Ahmedabad, and Pune led with double-digit growth. Unsold inventory increased marginally nationally but dropped in Pune, Delhi-NCR, and Ahmedabad. Bengaluru and Hyderabad saw a slight dip in unsold units quarterly. Developers are monitoring stock and demand for new launches.
In Q1 2024, unsold inventory across the top eight cities stood close to 10 lakh units, with MMR having almost a 40% share, the Colliers-Liases Foras report said