Real Estate News
High costs, sluggish job market hurt home sales
Rising affordability concerns and a sluggish job market continued to push home prices downwards, according to a report released by Nomura. At all-India level house price inflation continued to moderate at a fast pace and eased to its lowest recorded level of 5.2% in Q1 2016, as per the Reserve Bank of India's housing price index (HPI). House price inflation was recorded at 9.8% in Q4 2015. According to Nomura, end-user demand was largely curtailed by elevated home prices and weak job growth that log jammed any possible sales in the real estate sector.
Source: The Economic Times, July 8, 2016, Mumbai
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