Home prices in India jump 72% since 2007: BIS
Bank for International Settlements (BIS) shows that India’s residential property prices has risen by a cumulative 72.3% between calendar years 2007 and 2015. This is the highest cumulative growth among a group of 18 major economies Brazil ranked no. 2 with 61.3% growth. Home prices have also not fallen uniformly across markets in India. Prices have been sticky in the last few years and a time correction has taken place. In some ways, it is also a reflection of the Indian economy’s relatively resilient performance after the financial crisis. According to Sandipan Pal, an analyst with Motilal Oswal Financial Services Ltd, a “Broad based rise in home prices is some time away and should come after a sales volume recovery, which looks to be 12-18 months away.”
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