Perspective on Increase in lending rates by the Reserve Bank - Vivek Rathi, Knight Frank India
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Below is Perspective on Increase in lending rates by the Reserve Bank By Mr. Vivek Rathi, Director Research, Knight Frank India.
“A 1% increase in home loan interest rate reduces house purchase affordability by 7.4%. We are on a landscape of rising interest rate and increasing property price, which will put pressure on affordability if they move beyond income growth. At the current juncture, strong income growth is supportive of homebuyer affordability. Hence, comfortable affordability level coupled with the renewed enthusiasm for home ownership shall help maintain the strong housing sales momentum in the near term.”
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