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Low mortgage rates, stagnant prices boost housing demand in Tier-II cities too
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The recovery in housing demand is being driven by a growing demand for homeownership, which is being fueled by historically-low mortgage rates, stamp duty waivers in several states, and stagnant prices. According to the JLL – Residential Market Update: Q3 2021, “in Q3 2021, sales witnessed an upward trajectory, increasing by 65% on a sequential basis, with 32,358 apartment units sold during the quarter against 19,635 units in Q2 2021.”
Developers eagerly launched new home projects with an eye on the festive season as economic growth returned in tandem with the gradual return to normalcy. According to data collated by Housing.com, 65,211 units were launched in Q3 2021 — a jump of 199% compared to the Q2 2021 period when 21,839 units were
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