India 47th globally in home price appreciation

India ranks 47th among the 56 countries/territories tracked, in terms of appreciation in residential real estate prices, with a marginal 0.6 per cent year-on-year (YoY) rise in home prices, said international property consultancy, Knight Frank in its latest report - Global House Price Index Q3 2019.

India stood at the 11th position in the previous edition of the report - Global House Price Index Q2 2019 - with a 7.7 per cent YoY rise in home prices.

"During the last four years, the growth in residential prices in most of the top eight cities of India has been below retail inflation growth, which has helped in keeping the end-user interested.

Liquidity crunch, high inventory overhang, and an overall sluggishness in demand have played their part in rationalising home prices.

Real estate developers are focusing on keeping the prices realistic, with right-sizing their products, which is helping in attracting end users and improving buyers' confidence," said Shishir Baijal, Chairman & Managing Director, Knight Frank India.