Reaction Quote: RBI Monetary Policy, Feb 2023: Ambience Group

“It’s undeniable that the rise in repo rate will affect housing affordability. Repeated rate hikes may temporarily delay the purchase decision, but does not reduce overall housing demand. At a time when the real estate sector is showing signs of recovery and a strong bounce back driven by end-users, the marginal increase in cost of purchase would eventually average out and be overtaken by consistent rise in capital values. We believe that luxury housing has a higher demand than other segments of the market, and the hike will have little impact on this segment” says Ankush Kaul – Chief Business Officer, Ambience Group.