Digital home loan marketplaces will lead to a paradigm shift in the home loan market in 2022, writes Pramod Kathuria of Easiloan.
Home buying made a comeback after months of uncertainty caused by the second wave of the pandemic in 2021. Consumers seized the opportune home buying moment thanks to muted prices and low home loan interest rates. Banks doled out more home loans, almost equivalent to pre-pandemic levels of 2019. All this meant better times for real estate developers who could unlock liquidity from their inventories and sell across the board from pre-launches to ready-to-move flats.
All in all, it was a good year for India’s real estate sector given the circumstances.
This momentum in home buying will move on to the next level in 2022 and give a fillip to the home loan market. Consumers will continue their home buying spree and leverage the record low interest rates. One can expect home loans to be one of the most sought after lending products of 2022.