Housing prices may rise 5% during 2022

TIL Desk/Business/New Delhi/ Housing prices may rise 5 per cent next year on improved demand, according to Knight Frank India. In its ‘2022 Outlook Report’, the property consultant said: “While 2021 was mostly impacted by the volatility due to the pandemic, 2022 may prove to be a more stable year for the sector both for commercial as well as the residential sector.”

On the housing segment, the report said that sales momentum is expected to continue in 2022 as prospective homebuyers’ preferences for bigger homes, better amenities, and attractive pricing will keep them interested to seal the deals. “After facing a series of structural reforms like demonetisation, GST, and RERA during the last decade, the pandemic arrived as another blow for the real estate sector.

“Our decadal analysis of the 2011 to 2021 period indicates many of the supply and demand-side factors have started putting upward pressure on house prices and as a result, we project around 5 per cent price increase in 2022,” it added.