08-12-2023 12:06 PM | Source: PR Agency
As the housing market continues to outperform 2022 sales, an unchanged repo rate signals steady interest rates for prospective homebuyers and developers. This will aid a stronger 2023 with sales expected to be higher by 20-30% compared to 2022. Steady interest rates will continue to fuel sentiment buoyancy in the market, keeping the housing market on a higher growth trajectory as we begin 2024.
Comment on Monetary Policy : Mr Vimal Nadar, Senior Director, Research Colliers India
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Below the Comment on Monetary Policy : Mr Vimal Nadar, Senior Director, Research Colliers India
On much expected lines, RBI kept the repo rate unchanged at 6.5% in the backdrop of strong buoyancy in economic growth and moderation of inflation levels. At 7% for FY 2023-24, India continues to be the fastest-growing economy amongst larger economies as global outlook continues to be clouded by higher inflation, supply constraints and climate change. Indian economy remains resilient due to a coordinated effort to control inflation while maintaining growth, augmenting supply and higher public & private investments.
As the housing market continues to outperform 2022 sales, an unchanged repo rate signals steady interest rates for prospective homebuyers and developers. This will aid a stronger 2023 with sales expected to be higher by 20-30% compared to 2022. Steady interest rates will continue to fuel sentiment buoyancy in the market, keeping the housing market on a higher growth trajectory as we begin 2024.
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