Housing prices to rise on increasing input cost: Industry players

Participating in a CII-Anarock webinar on Friday, real estate developers and consultants said they were surprised with strong recovery in housing sales both after the first and the second wave of COVID.

PTI

September 03, 2021 / 19:58 IST

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India's residential market will witness growth in the coming years on rising demand while housing prices are expected to appreciate on account of increased input costs, according to industry experts. Participating in a CII-Anarock webinar on Friday, real estate developers and consultants said they were surprised with strong recovery in housing sales both after the first and the second wave of COVID.

Overall housing market shrunk during the pandemic but large-branded developers have gained market shares, they added. The session was being moderated by Anarock Chairman Anuj Puri.

ALSO READ: COVID-19 second wave had lower impact on residential real estate sales: ICRA

Replying to a query on housing price outlook, Oberoi Realty Chairman and Managing Director Vikas Oberoi said price rise in housing market was "inevitable" as "there is clear cost escalation taking place". He also said the prices would be driven by rise in input costs and supply crunch.

According to him, developers, big or small and listed or unlisted, who have better execution track record would continue to do better. "I clearly see consolidation and growth," he said, adding that the consumption of real estate has started going up.

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