Investing in real estate is a smart investment. I have been in the real estate domain for quite a while, so let me share my thoughts on will property price increase in 2024. As per the market trend, it seems property rates will increase by 15% but demand will remain steady. Let me share more insights on this topic.
Will Property Prices Rise in 2024?
It is highly probable that property prices will increase 10-15% in 2024. This is mainly because the building material costs continue to rise and the demand for homes is also rising steadily. Here is a list of properties that people are seeking:
| Type of People | Property Type |
People seeking rental accommodation |
2 BHK |
People seeking rental accommodation |
2 BHK+ homes |
High Net Worth Individuals (HNIs) and Non-Resident Indians (NRIs) |
3 BHK |
High Net Worth Individuals (HNIs) and Non-Resident Indians (NRIs) |
3BHK+ |
High Net Worth Individuals (HNIs) and Non-Resident Indians (NRIs) |
4BHK |
So if you ask me, will property prices go up in 2024, I will say yes. Cities that will witness this hike primarily are:
Tier 1 Cities:
Mumbai
Delhi
Noida
Bangalore
Hyderabad,
Gurgaon, and
Chennai
Tier 2 Cities:
Ahmedabad
Chandigarh
Indore
Sonipat
Varanasi and
Lucknow
Since 2024 has just begun, it will take a couple of months more to observe the price trend before coming to a conclusion about the exact hike rate.
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Will Property Price Increase in 2024?
Tamanna
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1 Year
2024-03-27T08:37:49+00:00 2024-06-26T15:58:01+00:00Comment
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