Housing affordability worsened over past 4 years, Mumbai remains least affordable city: RBI survey
5 years, 5 months ago

Housing affordability worsened over past 4 years, Mumbai remains least affordable city: RBI survey

Firstpost  

The RBI has been conducting a quarterly Residential Asset Price Monitoring Survey since July 2010 on housing loans disbursed by select banks and housing finance companies across 13 cities. Mumbai: A Reserve Bank of India survey on Thursday showed that housing affordability has worsened in four years with Mumbai being the least affordable. “Housing affordability worsened over the past 4 years as the house price-to-income ratio increased from 56.1 in March 2015 to 61.5 in March 2019,” the RBI said while releasing the survey. It further said the movement of median loan-to-income ratio also confirms worsening housing affordability as it moved from 3 in March 2015 to 3.4 in March 2019.

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History of this topic

Delhi NCR beats Bengaluru, Mumbai in residential price growth; leads housing price index
2 weeks, 4 days ago

Delhi NCR beats Bengaluru, Mumbai in residential price growth; leads housing price index

Hindustan Times  

Driven by strong end-user demand and investor interest, the Delhi National Capital Region has shown significant appreciation in residential prices with a Housing Price Index of 178 between June to September, a joint study by Housing.com and the Indian School of Business on December 23 showed. Delhi National Capital Region has shown significant appreciation in residential prices with a Housing …

Affordable housing shortage to touch 312 lakh units by 2030: CII-Knight Frank report
1 month ago

Affordable housing shortage to touch 312 lakh units by 2030: CII-Knight Frank report

Hindustan Times  

Affordable housing in India is expected to touch 312 lakh units by 2030 with a potential market size of ₹67 trillion, a report by Confederation of Indian Industry and Knight Frank has said, adding the segment could also provide several opportunities for financial institutions. Affordable housing in India is expected to touch 312 lakh units by 2030 with a potential …

Avg housing prices up 11pc in Jul-Sep in 8 cities, highest 32pc rise in Delhi-NCR: Report
1 month, 1 week ago

Avg housing prices up 11pc in Jul-Sep in 8 cities, highest 32pc rise in Delhi-NCR: Report

Live Mint  

New Delhi, Dec 2 India's eight major residential markets saw an average 11 per cent increase in prices annually during the September quarter on strong housing demand, with Delhi-NCR witnessing the highest appreciation at 32 per cent, according to a report. "Average housing prices across the top eight markets in India rose 11 per cent Y-o-Y at ₹11,000 per square …

Rate cuts may help optimize home affordability, Kolkata most affordable housing market
1 month, 2 weeks ago

Rate cuts may help optimize home affordability, Kolkata most affordable housing market

Hindustan Times  

Most real estate markets across the country, especially Mumbai and Pune are expected to approach optimal affordability levels by 2025 with a projected interest rate cut on the horizon, while Kolkata is set to maintain its status as the most affordable market, potentially hitting new peaks, according to JLL’s Home Purchase Affordability Index. Rate cuts may help optimize home affordability …

Affordable Cities in India in 2024: The Least and the Most
3 months, 4 weeks ago

Affordable Cities in India in 2024: The Least and the Most

The Hindu  

Affordable Cities in India in 2024: Finding an affordable city in India can be a game-changer, especially in 2024 when the cost of living has been varying significantly. 2024: The Most Affordable Cities in India A recent analysis was done by a market source investigating the price-to-income ratio and the EMI-to-income ratio in various cities of the country. According to …

THESE cities are most affordable for housing investments: Check list here
4 months ago

THESE cities are most affordable for housing investments: Check list here

India TV News  

Proptech firm Magicbricks, in its latest report - 'Housing Affordability in Major Indian Cities' - showed that Chennai, Ahmedabad and Kolkata are among the most affordable cities for investment in the housing segment. "Chennai, Ahmedabad, and Kolkata are among the most affordable cities for residential investments in 2024, while the Mumbai Metropolitan Region and Delhi emerged as the least affordable," …

Affordable housing launches drop 21% in April-June period across 7 major cities as builders focus on premium units
5 months, 4 weeks ago

Affordable housing launches drop 21% in April-June period across 7 major cities as builders focus on premium units

Hindustan Times  

Real estate developers' focus on the premium housing segment priced between ₹3-5 crore led to launches growing by around 170% year-on-year, luxury segment priced above ₹5 crore followed with 116% growth. Real estate developers' focus on the premium housing segment led to launches growing by around 170% year-on-year, luxury segment followed with 116% growth, a report by JLL said New …

Luxury homes above ₹1 crore witness 41% growth in sales; affordable housing sales decline
6 months ago

Luxury homes above ₹1 crore witness 41% growth in sales; affordable housing sales decline

Hindustan Times  

Housing sales hit an 11-year high with 1.73 lakh units sold across the top eight Indian cities. NCR and Mumbai accounted for almost half of premium category sales in H1 2024, a new report by Knight Frank India showed. Home sales surged by 11% YoY to touch 1.73 lakh units sold across the country’s top eight markets in H1 2024, …

Modi 3.0: Cabinet’s nod to 3 crore rural and urban homes under PMAY to help revive the affordable housing segment
6 months, 4 weeks ago

Modi 3.0: Cabinet’s nod to 3 crore rural and urban homes under PMAY to help revive the affordable housing segment

Hindustan Times  

Hours after taking office for a third consecutive term, Prime Minister Narendra Modi's new Union Cabinet announced its first major policy decision to provide assistance for the construction of an additional three crore rural and urban houses under the Pradhan Mantri Awas Yojana. This, say real estate experts, is aimed at ensuring continuity to the Housing for All scheme and …

Avg housing prices increase by 10% in Jan-Mar across top 8 cities; Bengaluru and Delhi-NCR witness 19% and 16% growth
7 months, 3 weeks ago

Avg housing prices increase by 10% in Jan-Mar across top 8 cities; Bengaluru and Delhi-NCR witness 19% and 16% growth

Hindustan Times  

Average housing prices increased by 10% annually during Q1 2024 on the back of strong residential demand. While each of the top eight cities witnessed annual price appreciation, average housing prices in Bengaluru, Delhi NCR, Ahmedabad, and Pune registered double digit growth, a report has said. Bengaluru witnessed the maximum price increase of 19% Bengaluru witnessed the maximum price increase …

Why are house prices so high in India? | In Focus podcast
10 months, 1 week ago

Why are house prices so high in India? | In Focus podcast

The Hindu  

February 29, 2024 04:10 pm | Updated 05:06 pm IST Housing is a basic requirement for dignity of life. But affordable decent housing remains a distant dream for most Indians, especially in urban India. Close to 17% of all households in urban India live in slums, with this percentage shooting up to 41% in a city like Mumbai and 29% …

Housing sales makes new peak in 2023
1 year ago

Housing sales makes new peak in 2023

Deccan Chronicle  

Chennai: Housing sales in the top 7 cities have created a new peak in 2023, increasing 31 per cent over the previous year. Around 4,76,530 housing units were sold in 2023 in the top 7 cities, against 3,64,870 units in 2022 – 31 per cent increase. In terms of supply, around 4,45,770 new units were launched in 2023 against 3,57,640 …

Affordability to buy home to rise to a three-year high in 2024, on expectations of interest rate cuts
1 year ago

Affordability to buy home to rise to a three-year high in 2024, on expectations of interest rate cuts

Hindustan Times  

The affordability for home purchases is expected to improve for the better in 2024, basis the expectation of a 60-80 bps repo rate cut during the year, says JLL’s report on the Home Purchase Affordability Index. JLL Home Purchase Affordability Index signifies whether a household earning an average annual income is eligible for a housing loan on a property in …

Analysts Welcome RBI’s Decision To Keep Rates Unchanged, Give Healthy Outlook For Markets
1 year, 1 month ago

Analysts Welcome RBI’s Decision To Keep Rates Unchanged, Give Healthy Outlook For Markets

ABP News  

The RBI’s Monetary Policy Committee on Friday announced after its bi-monthly review meeting that it has decided to keep the repo rates unchanged at 6.5 per cent. Overall, at the margin, policy seems to be positive for markets.” RBI Decision Helpful For Housing Market Another analyst, Anuj Puri, Chairman, Anarock Group, noted that the regulator opted to keep the rates …

Mumbai, Delhi & Bengaluru among cities with highest annual rise in property rates
1 year, 2 months ago

Mumbai, Delhi & Bengaluru among cities with highest annual rise in property rates

Hindustan Times  

The year-on-year growth in average annual prices of prime residential or luxury homes in three Indian cities was among highest in the world, with each city ranking in top 20 out of 46 cities analysed by real estate consultant Knight Frank India in its ‘Prime Global Cities Index’ for Q3 2023. Higher rates mean we have moved into a world …

Housing prices rose across 43 cities in Q1 of FY24: Report
1 year, 4 months ago

Housing prices rose across 43 cities in Q1 of FY24: Report

Hindustan Times  

Housing prices rose in 43 cities in the first quarter of 2023-24, while the rates of residential units fell in seven cities, according to National Housing Bank. Eight key primary residential markets -- Ahmedabad witnessed a 9.1 per cent appreciation in property prices while Bengaluru 8.9 per cent and Kolkata 7.8 per cent during the April-June 2023 period. READ | …

High home loan rates hit affordability; Mumbai becomes unaffordable: Report
1 year, 4 months ago

High home loan rates hit affordability; Mumbai becomes unaffordable: Report

Live Mint  

The increase in interest rates on home loans has affected the affordability of residential properties across India between January-June this year, according to Knight Frank India. The index showed that higher home loan rates have reduced affordability across all markets so far in 2023. As per Knight Frank's report, the hike in repo rates by 250 basis points from May …

India’s housing market enjoys rapid growth, but can it last?
1 year, 5 months ago

India’s housing market enjoys rapid growth, but can it last?

Live Mint  

The Indian real estate market is showing robust performance in the second quarter of 2023, with sales maintaining its momentum as new supply continues to pour in. The ISB – Housing.com Housing Price Index shows an increase of 7.21% in property prices during Q2 2023, a jump from both Q1 2023’s 6.78% and Q2 2022’s 2.83%. Housing Price Index - …

Housing prices across 8 major Indian cities increased by 7% in Q2 2023: Report
1 year, 5 months ago

Housing prices across 8 major Indian cities increased by 7% in Q2 2023: Report

Hindustan Times  

Housing prices in Delhi-NCR rose by an average 14 per cent year-on-year during April-June period, but fell 3 per cent in Mumbai Metropolitan Region, according to a joint report by CREDAI, Colliers India and Liases Foras. Among eight cities, MMR was the only cities that saw fall in average prices during the April-June quarter by 3 per cent to ₹ …

EMIs Of Homebuyers Rise Over 20 Per Cent In Two Years In Affordable Housing Segment
1 year, 5 months ago

EMIs Of Homebuyers Rise Over 20 Per Cent In Two Years In Affordable Housing Segment

ABP News  

Affordable housing in India suffered the most due to the Covid-19 pandemic, and unlike the other segments, has not recovered in the past two years. According to their report, the share of affordable housing in overall sales in H1 2023 shrunk to 20 per cent, an 11 per cent decrease against the corresponding period in 2022. The mounting desolation is …

Residential sales in eight cities second highest in a decade in H1 2023
1 year, 6 months ago

Residential sales in eight cities second highest in a decade in H1 2023

Hindustan Times  

MUMBAI: The residential sales in the top eight cities touched 1.56 lakh units in the first half of 2023, the second highest in a decade, said the half yearly report on real estate released by international property consultants Knight Frank on Tuesday. HT Image The luxury segment homes priced above ₹1 crore grew from 25% in H1 2022 to 30% …

Affordable housing breaks ground
1 year, 9 months ago

Affordable housing breaks ground

The Hindu  

Affordable housing is predicted to play a big part in the expansion of the Indian real estate market this year. Affordable housing has become one of the most vibrant segments of the Indian real estate market. This highlights the crucial role that the real estate sector, particularly affordable housing, can play in boosting the country’s economy. Given India’s enormous housing …

Looking For Home? Know Which City Is Most Affordable In India
2 years, 6 months ago

Looking For Home? Know Which City Is Most Affordable In India

News 18  

Even as the real estate market is seeing an uptick after two years of lull due to the coronavirus pandemic, demand for housing has been on the rise for the past few months. From 93 per cent in 2010, the home purchase affordability index improved to 66 per cnet in 2019. From 53 per cent in 2010, the home purchase …

Housing on road to recovery but potholes loom
2 years, 8 months ago

Housing on road to recovery but potholes loom

Live Mint  

A year back, we at the Indian School of Business, started tracking housing prices across eight major real estate markets of India, to aid investors, policymakers, and home buyers make informed decisions. Our W-shaped recovery prediction came on the back of an affordable housing push by the government, a prevailing low interest regime, slashed stamp duty charges in certain states …

Home Loan to Remain Cheaper: RBI Relaxes Loan-to-Value Rules till March-end Next Year
2 years, 9 months ago

Home Loan to Remain Cheaper: RBI Relaxes Loan-to-Value Rules till March-end Next Year

News 18  

In a move to make home loans cheaper, the Reserve Bank of India on Friday announced that it will rationalise the risk weights and link them to loan-to-value ratios for new home loans till March 31, 2023. Being a tangible asset and safe haven investment, people continue to invest in real estate.” “As home loans are likely to remain cheaper, …

Affordability of residential real estate improves dramatically
3 years, 10 months ago

Affordability of residential real estate improves dramatically

Live Mint  

There was never a better time to buy a house than today. According to data from multiple sources, property affordability is the highest ever if you consider real estate prices, falling home loan interest rates and incomes. AFFORDABILITYHAS GONE UP HDFC Ltd tracks affordability based on the customer’s profile, property rates and other incentives available for a buyer, including tax …

Budget 2021: Concrete measures for a real estate push
3 years, 11 months ago

Budget 2021: Concrete measures for a real estate push

India Today  

Recognising the importance of reviving the real estate sector, which contributes 4.3 per cent to the country’s GDP and employs 52 million, the Centre had already set the ball rolling on a series of measures to support it, especially in the affordable segment. Moreover, in a bid to keep up the supply of affordable houses, she has proposed that affordable …

Mumbai expected to see a fall in property prices this year and next
4 years, 8 months ago

Mumbai expected to see a fall in property prices this year and next

Live Mint  

India’s most expensive city in terms of capital value is expected to witness a fall in property price this year, as well as in 2021. According to a research report—Prime Global Residential Forecast— released today by Knight Frank, a real estate consultant, “Prime residential market of Mumbai is expected to see a price fall of 5% in the year 2020. …

Housing sales falls 26% in Jan-Mar in top cities, new supply plunges 51%: Report
4 years, 8 months ago

Housing sales falls 26% in Jan-Mar in top cities, new supply plunges 51%: Report

Live Mint  

Real estate developers sold 26 per cent less apartments during January-March period across nine major cities as economic slowdown and coronavirus outbreak affected demand, News Corp-backed PropTiger said. In Maharashtra, housing sales in Mumbai declined 14 per cent to 23,969 units while Pune saw 15 per cent fall in demand to 15,523 apartments. In Delhi-NCR region, Gurugram faced 73 per …

Flat sales in Mumbai jump as developers focus on cheaper apartments
5 years ago

Flat sales in Mumbai jump as developers focus on cheaper apartments

Live Mint  

Home sales in Mumbai, India’s financial capital, jumped to the highest in four years as property developers switched focus to building cheaper apartments, according to Anarock Property Consultants. Sales in Mumbai rose 22% in 2019 even though a persistent credit crunch and economic slowdown curtailed recovery in India’s housing sales across top seven cities. “The region saw maximum supply in …

How much does a house cost in Mumbai?
5 years, 4 months ago

How much does a house cost in Mumbai?

Live Mint  

A house is probably the biggest spend for most Indians. And with urban population increasing manifold, buying a house in a large city, which is where most jobs are likely to be, has become difficult—the first and foremost obstacle being the cost of the property. Unlike the share market where you can see the price of a particular share on …

RBI rate cuts not enough to re-fire damp India housing market: Reuters poll
5 years, 4 months ago

RBI rate cuts not enough to re-fire damp India housing market: Reuters poll

Live Mint  

Bengaluru: India's liquidity-starved economy will restrain housing market activity and price rises in coming months and into 2020, according to a Reuters poll of property market experts who were skeptical aggressive interest rate cuts will revive it. Indeed, nearly three-fourths of 18 analysts who answered an additional question said the RBI's interest rate cuts this year would have no impact …

Housing affordability worsened in past 4 years: RBI survey
5 years, 5 months ago

Housing affordability worsened in past 4 years: RBI survey

The Quint  

Mumbai, July 11 Although there has been emphasis and hype over affordable housing since the past few years, an RBI survey released on Thursday shows that affordability in the country's housing sector has deteriorated in the last four years. "Housing affordability worsened over the past 4 years as the house price to income ratio increased from 56.1 in March 2015 …

Housing price: Bhubaneswar most affordable city in India, says RBI survey
5 years, 5 months ago

Housing price: Bhubaneswar most affordable city in India, says RBI survey

Live Mint  

Bhubaneswar most affordable city in India in terms of Median House Price to Monthly Income while Mumbai remains the least affordable, according to Reserve Bank of India latest quarterly residential asset price survey. The RBI has been conducting a quarterly residential asset price monitoring survey since July 2010 on housing loans disbursed by select banks/ housing finance companies 1 across …

Mumbai sees biggest decline in home sizes, rise in affordability
5 years, 10 months ago

Mumbai sees biggest decline in home sizes, rise in affordability

Live Mint  

Bengaluru: Mumbai, India’s most expensive property market, showed the maximum improvement in affordability among top eight cities, along with a reduction in average home sizes since 2010, property advisory Knight Frank India’s latest Affordability Index showed. The fall in home prices to income ratio in all eight cities, including Mumbai, NCR, Bengaluru, Kolkata, Chennai, Ahmedabad, Hyderabad and Pune, signals rising …

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