New Delhi: Hyderabad is the only Indian city among the top 20 globally which has seen apperception in residential real estate prices.
It has ranked 14th among 150 international cities in terms of increase in residential real estate prices, according to international property consultancy Knight Frank.
Hyderabad has recorded 9 percent jump in housing prices on the back of fewer launches which made the buyers choose the ready unsold units and thus giving a bargaining edge to the builders.
The Indian Capital New Delhi stood 73rd in the global ranking with 3.2 percent increase in home prices. Bengaluru stood at 94th rank with a 2 percent increase and Ahmedabad ranked 108th rank with a 1.1 percent 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 and the gap has progressively increased since first half of 2016. Hyderabad has been the only market to buck the trend and record residential price growth over the retail inflation level. This end-user friendly movement in prices across cities is a step in the right direction and more in-line with the contemporary home-buyer’s needs,” said Shishir Baijal, Chairman & Managing Director, Knight Frank India.
Home prices in the 150 global cities tracked by the consultancy rose by 3.2 percent on an average. This is the lowest appreciation on an annual basis since the second quarter of 2015.