Property Prices In Indian Cities Are Rising Despite A Global Decline: Report
Property Prices In Indian Cities: In the July-September period, average property values in Mumbai, Bangalore. And New Delhi increased according to Knight Frank’s Prime Global Cities Index.
Despite the fact that average property prices in some of the world’s leading cities are falling, they continued to rise in all three prime residential markets during the July-September period of 2022 (Q3CY2022), according to data from global property brokerage firm Knight Frank.
Average property values in India’s financial capital Mumbai increased 4.8% year on year, according to the Prime Global Cities Index Q3 2022. The index showed that when compared to the same period last year. Average property values in Bangalore increased by 3.3%, while in New Delhi they increased by 1.2%.
Are you looking flat for sale in Kharghar?
Property Prices In Indian Cities
According to the report, the positive growth is due to strong buyer sentiment, comparative affordability, and the general policy environment. “Strong market sentiment, adequate affordability, still low interest rates compared to 2019. And a much more stable economy and business environment relative to many developed economies” are some of the factors supporting price growth, according to the report.
“India continues to distinguish itself as one of the world’s most resilient large economies. And market sentiment remains buoyant.” While rising mortgage rates have weighed on prime residential markets around the world. The Indian prime residential market has been relatively strong and should be able to maintain momentum until the end of 2022. According to Shishir Baijal, CMD, Knight Frank India.
The Prime Global Cities Index is a valuation-based index that uses Knight Frank’s global research network to track the movement of prime residential prices in local currency across 45+ cities worldwide.
Globally, the index recorded 7.5% annual growth in Q3 2022, down from 10% in Q1 2022. Annual growth, at 7.5%, is still higher than the index’s average five-year growth rate of 4.4%. Between July and September 2022, six cities experienced double-digit price growth, while 19 cities experienced price declines.
You’re looking for Buy Home In Navi Mumbai we have the Best Buy Properties In Navi Mumbai Like Ready to Move & Nearby possession: https://navimumbaihouses.com/property/search/buy/navi-mumbai-all/
If you want daily property update details please follow us on Facebook Page / YouTube Channel / Twitter
