Even affordable homes not sold!
Property sales has witnessed a quiet all time low in the couple of years.
Yet in this scenario, affordable homes also did not do any magic on the buyers’ buying spree.
Hike in property prices and higher interest rates can not be blamed alone. There are other reasons like difference in buyer preferences or high supply of affordable homes against the low demand for it.
According to a research by Knight Frank Research and Indicus Analytics, around 54% of units in this sector are lying vacant and they are under Rs 25 lakh bracket.
Most of the projects are in Delhi, Gurgaon, Noida, Ghaziabad, etc.
Source: The Economic Times
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