Increase in interest rates will affect home purchases, report reveals

Real estate consultant Enrak has released a survey. According to this, home loan interest rates have increased in the country. Now many home buyers believe that the interest rate on home loans has increased to more than 9.5 percent. These also influence the decisions of home buyers.

Enrac has conducted this online consumer perception survey on 5,218 people. According to this survey, people would like to buy middle and premium-segment houses. It says that most of the people want to buy 3BHK (bedroom, hall, kitchen) flats. In this survey, 66 percent of people said that increased inflation has affected their disposable income.

98 percent of the people involved in this survey said that another increase in interest on home loans or the interest rate being more than 9.5 percent has had a great impact on the sale of houses. According to the survey, at present the average interest rate on home loans is 9.15 percent.