Survey Concludes, High Property Price, Low Ownership Home and Low Loan Rates.

Survey Concludes, High Property Price, Low Ownership Home and Low Loan Rates.

NEW DELHI: Home ownership among the urban middle class in India seems to be low at present, with high interest rates and property prices, among others, acting as the major deterrents for people in buying homes.

More than half of the people do not wish to buy a house in the next six months, with high interest rates and lack of personal savings and unwillingness to borrow being the most important limiting factor, followed by high property rates and insufficient loan availability, shows a latest survey by India Mortgage Guarantee Corporation (IMGC), in association with Kantar IMRB.

Just 32% of the respondents at present live in self-purchased homes, while almost 38% still live with their parents and the rest 30% live in a rented house, the survey shows……..Read more

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