Housing prices rise most in India

NEW DELHI: Housing prices in India witnessed the steepest rise in the world in the last 10 years since 2001. “House prices in India have increased by 284% in real terms, after allowing for inflation — equivalent to an average annual rise of 14%,” said Lloyds TSB International Global Housing Market Review.

This is an over six-fold increase compared to the 47% rise in China’s housing prices over the same period. After India , Russia recorded the next biggest increase of 209%.

In India, prices have risen maximum in South Delhi, Gurgaon and Noida. Prices in some of the markets in NCR rose by 1,100% including inflation.