First-Time Homebuyers Could Drive India’s Next Housing Boom

Many young people in India are starting to think that buying a home may be possible.

High rents in some cities are making home loans seem like another way to spend their money.

Younger buyers are also more comfortable comparing loans and understanding monthly payments.

The pandemic changed what people want in a home, including more space, balconies and safer shared areas.

Better roads, metro systems and expressways let buyers look farther from city centres.

These farther-out homes may offer more space for the same budget.

However, home prices have risen, and there may not be enough affordable homes.

If builders create suitable homes at reasonable prices, first-time buyers could keep India’s housing market growing for years.