India Among Top 10 Price Appreciating Housing Markets In Q2

Posted By:
Subscribe to GoodReturns

    The growth in mainstream residential prices in India has landed it a place among top 10 international markets in Q2 2017, a recent survey said.

    According to Knight Frank's Frank Global House Price Index, India stood ninth among 55 international markets 13 spots above its position on the index over April-June 2016. It even bettered the performance over the previous quarter wherein it ranked thirteenth, it said. Why You Need A Rental Agreement?

    India Among Top 10 Price Appreciating Housing Markets In Q2

    At an annual price appreciation of 10.5 per cent India's residential sector out-shined matured markets such as China (9.6 per cent) and did nearly four times better than the price rise recorded in the United Kingdom (2.8 per cent), the report revealed.

    "The residential sector in select tier-II cities such as Kochi, Lucknow and Kanpur have triggered the price growth. However, home prices in most metro cities such as Chennai and Delhi have not shown significant performance," Knight Frank India Chief Economist and National Director - Research Samantak Das said.

    Overall nearly 90 per cent of the 55 housing markets witnessed a flat or positive price growth in the 12-month period to June 2017.

    Iceland topped the index with a year-on-year price rise of 23.2 per cent followed by Hong Kong (21.1 per cent). Prices in both the markets primarily strengthened owing to limited supply and a healthy surge in demand, it added.

    Meanwhile, matured markets such as Singapore and Japan saw negative growth, while Hong Kong emerged as Asia's strongest market in the 12-month period.

    Read more about: housing market
    Story first published: Friday, September 8, 2017, 15:50 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more