In 2023, residential prices increased consistently, making relatively affordable under-construction properties more attractive for investment and home ownership, reveals the latest PropIndex report by Magicbricks, a real estate platform.
Cities such as Noida (7.1% QoQ), Greater Noida (6.1% QoQ), Bengaluru and Mumbai (5.7% QoQ each) witnessed the most substantial price increments in under-construction properties.
Explaining the trends, Abhishek Bhadra, Head of Research, at Magicbricks said, “Historically, homebuyers have often favoured completed projects over new developments. But against the backdrop of increasing residential prices in 2023, there emerged a discernible shift in preference towards relatively more affordable under-construction properties.“
