Investing in real estate always comes with risk. The recession during the COVID-19 crisis has been miserable in all sectors of the economy but now everything is getting better. I remember that in 2019, we were offered Rs 35 Lakhs for a 2 BHK house in Kolkata but after the recession, the price fell to Rs 23 Lakhs. So in short to answer
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what happens to house prices in a recession, I will say that house prices all fall.
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What does a recession mean for house prices?
During the recession, the demand for house buying falls to a great extent. Now if there is no demand the price of houses ought to fall.
House prices during the recession might decrease but usually, after a few years only, things get back to normal so it's better to wait for the recession to end and then sell them off.
Which cities can witness demand for properties?As per surveys and reports, it is believed that house prices in 2023 will not fall but rather increase. About a 7.5 per cent rise is to be witnessed especially in cities like Mumbai, Bangalore, Delhi and Chennai. These cities are flourishing day by day hence the prediction. But this percent or even predictions can change. An investor might take the risk himself and invest after much consideration.
This is my answer to your query about
what happens to house prices in a recession.
Read More:Do property prices fall during a recession in India?
When property prices will go down?
Will property prices go up in 2023 in Mumbai?
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What Happens to House Prices in a Recession?
Swata
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2022-12-22T19:06:06+00:00 2022-12-22T19:06:07+00:00Comment
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