Housing Market Stabilizes: A Calm After the Price Surge
The Housing Price Index on residential properties across 13 major Indian cities rose by eight points year-on-year to 132 in March, indicating a price stabilization, according to REA India and the Indian School of Business. Experts attribute the trend to cautious market sentiment and improved affordability.
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The Housing Price Index (HPI) has experienced a yearly increase of eight points, reaching 132 in March, noted a report by REA India and the Indian School of Business. This index, a collaborative effort between REA India's Housing.com and ISB, evaluates pricing trends in 13 critical cities like Ahmedabad and Bengaluru.
Compared to last March, the index showed a significant rise, while it mirrored February's figures. According to Praveen Sharma, CEO of REA India, the Indian housing market has been undergoing a consolidation phase, presenting a steadying of property values after prolonged price hikes. This stabilization suggests a more sustainable growth path.
Sharma anticipates that stable pricing combined with factors like improved affordability from recent rate cuts and demand drivers such as income growth will sustain the housing sector's resilience. Echoing this sentiment, Professor Shekhar Tomar of ISB identified price stability as indicative of a balanced market. The 2025 price stabilization reflects global economic headwinds and a cautiously optimistic buyer outlook.
(With inputs from agencies.)
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