India’s New Home Sales Decline Up to 25%, Knight Frank Says
This article is for subscribers only.
India’s new home sales fell as much as 25 percent after prices reached a record earlier this year and aren’t expected to recover in the next six months following six interest rate increases, Knight Frank LLP said.
“The first half of next year will be damp for home sales and prices,” Mumbai-based Anand Narayanan, national director of residential agency at the Indian unit of real-estate brokerage Knight Frank, said in an interview yesterday. “We could see a 5 percent correction in prices through incentives given by builders to woo customers.”