As a result of Covid-19 and the ensuing lockdown, the Indian economy slowed. Indian real estate markets took the biggest hit during this slump. However, the real estate industry is also recovering as the economy shows signs of improvement. Due to the increased demand for properties, investors who were previously cautious about entering the market are now active. And this is despite growing house loan interest rates and the cost of real estate in India.
Additionally, they are trying to determine whether they ought to purchase a home in the existing economy. The decision to purchase a home is influenced by several variables, including affordability, locality, competence to repay the loan, and changing real estate prices. These guidelines will help you decide if now is the right moment to buy a house, even if there are no strict guidelines for making decisions and uncertainty on whether real estate prices will fall persists.
A scenario analysis indicates that the investor should purchase their ideal home before prices reach their peak. Due to rising interest rates and increased demand driving up housing costs, potential home buyers face a double bind as the residential market continues to experience expansion and is positioned at a tipping point.