Oil Shock To Real Estate: Will US-Iran Tensions Push Property Prices Up In India?
Niranjan Hiranandani, Founder and Managing Director of Hiranandani Group, stated that the escalating tensions between the US and Iran will "100% it will increase the prices" of raw materials and property. He explained that while initial cost increases might be absorbed if the conflict is short-lived, a prolonged war would lead to significant inflation. Mr Hiranandani noted that rising energy costs and a falling dollar would make petroleum imports more expensive, impacting various products. He predicted that if the war continues, property prices could see a rise of "10 to 12% at least" within the next three to five months. However, he expressed hope for a diplomatic solution, noting that the conflict affects energy sources for major economies like India, China, and Japan. He emphasized that the global impact on the Middle East energy supply makes a long-term war unlikely compared to other recent conflicts like those in Ukraine or Gaza, as the entire East and Middle East are affected by these escalations.
Niranjan Hiranandani, Founder and Managing Director of Hiranandani Group, stated that the escalating tensions between the US and Iran will "100% it will increase the prices" of raw materials and property. He explained that while initial cost increases might be absorbed if the conflict is short-lived, a prolonged war would lead to significant inflation. Mr Hiranandani noted that rising energy costs and a falling dollar would make petroleum imports more expensive, impacting various products. He predicted that if the war continues, property prices could see a rise of "10 to 12% at least" within the next three to five months. However, he expressed hope for a diplomatic solution, noting that the conflict affects energy sources for major economies like India, China, and Japan. He emphasized that the global impact on the Middle East energy supply makes a long-term war unlikely compared to other recent conflicts like those in Ukraine or Gaza, as the entire East and Middle East are affected by these escalations.
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