DEMAND FOR HOME LOANS PICKING UP
The Times of India (Delhi edition), July 15, 2009
With affordability factor of buying a house is increasing, senior officials of banks like ICICI Bank and State Bank of India said on Tuesday that demand for home loans has picked up.
In 2003 and 2004, when the housing boom had picked up, the situation was almost similar with the affordability factor down to around 4.5 and interest rates on home loans at 8 percent. A senior banker in ICICI Bank said that if the economic slowdown is arrested and interest rates retained at the present level, there would be a boom for demand of affordable houses in the range of Rs 20 lakh-30 lakh. This, bankers feel, may push the price up in the medium term of six to nine months.
The Times of India (Delhi edition), July 15, 2009
With affordability factor of buying a house is increasing, senior officials of banks like ICICI Bank and State Bank of India said on Tuesday that demand for home loans has picked up.
In 2003 and 2004, when the housing boom had picked up, the situation was almost similar with the affordability factor down to around 4.5 and interest rates on home loans at 8 percent. A senior banker in ICICI Bank said that if the economic slowdown is arrested and interest rates retained at the present level, there would be a boom for demand of affordable houses in the range of Rs 20 lakh-30 lakh. This, bankers feel, may push the price up in the medium term of six to nine months.
Posts
No comments:
Post a Comment