The majority of potential homebuyers in India expect property prices to rise over the next six months due to higher construction costs, according to a joint survey by Housing.com and NAREDCO.

The survey included responses from more than 3,000 people to gauge consumer sentiment for the first half of 2022. In its ‘Residential Realty Consumer Sentiment Outlook (January-July 2022)’ report, Housing.com and NAREDCO highlighted that 47% of the consumers prefer to invest in real estate, which was the highest compared to other asset classes such as stocks, gold, and bonds. This is also an increase from 35% that showed an interest in investing in real estate in the second half of 2020. 

“The pandemic has reinforced the need for owning a house for every individual. People want bigger and better homes. Our data showed that housing sales rose 13% in 2021, with a strong revival in demand. We believe that sales will cross pre-COVID levels this year,” said Dhruv Agarwala, Group CEO at Housing.com.