Property prices to see uptick over 2-3 yrs

This post is taken from The HANS India (source).

Residential real estate prices in the country are likely to increase over the next 2-3 years. Over the past several years property prices in the key markets including the Delhi-NCR have declined significantly owing to several disruptions to the market.

According to an ICICI Securities report, the possible rise in prices over the next few years may remain in the single digit per year, “While prices have remained stagnant over the last 5 years, we believe that prices may see a single digit rise over the next 2-3 years annually as inventory levels have stabilized,” it said.

Low mortgage rates and affordable prices are likely to support housing demand, the report noted.