On the back of increasing demand, house rents in major cities in India will continue to rise in 2023, property consultancy Anarock said. Between 2019 and 2022, the average rent jumped 23 per cent in major Indian cities. The main reason for the demand increase is the re-opening of offices after a long hiatus due to the Covid-19 pandemic.
"With more companies calling their employees back to the office, including in the hybrid mode, rental demand is rising across the 7 top cities, after plummeting during the two worst Covid-19 waves. We still recall the death knell being rung for the rental market in 2020," said Anuj Puri, chairman at the Anarock Group.
The biggest jump in the rent was