House Price Index
Real estate in India has traditionally been considered a safer investment. Despite cyclical changes and recessions, home values have generally risen over time. Low mortgage rates have an indirect effect on home prices, as buyers are willing to take on more debt when credit is cheap.
The data presented herein is based on Indexes published by RBI and BIS:
- Reserve Bank of India (RBI) releases a quarterly house price index based on transaction level data received from housing registration authorities in ten major cities (viz., Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow and Mumbai). The data for Chennai includes commercial properties.
- Bank of International Settlements (BIS), established in 1930 with its head-office in Switzerland, is owned by 62 central banks representing countries from around the world that together account for about 95% of world GDP. It releases a quarterly residential price index covering 58 countries.
Real estate in India has traditionally been considered a safer investment. Despite cyclical changes and recessions, home values have generally risen over time. Low mortgage rates have an indirect effect on home prices, as buyers are willing to take on more debt when credit is cheap.
The data presented herein is based on Indexes published by RBI and BIS:
- Reserve Bank of India (RBI) releases a quarterly house price index based on transaction level data received from housing registration authorities in ten major cities (viz., Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow and Mumbai). The data for Chennai includes commercial properties.
- Bank of International Settlements (BIS), established in 1930 with its head-office in Switzerland, is owned by 62 central banks representing countries from around the world that together account for about 95% of world GDP. It releases a quarterly residential price index covering 58 countries.
SUBJECT Variables
QUARTERLY GROWTH
- As per the RBI House Price Index, the average house prices increased by 3.1% in the quarter ended Dec'21, in comparison to a 2.4% increase in the previous quarter.
- Kochi witnessed the highest increase in residential house prices, with an increase of 19.8% in the quarter ended Dec'21.
- Prices in Delhi, Bangalore, Lucknow, Chennai, and Kanpur dropped in the quarter ended Dec'21.
- In comparison to its benchmarked G20 peers, residential house prices in India witnessed the biggest drop in the quarter ended Sep'21 as per BIS estimates.
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