Home prices in India jump 72% since 2007; highest among 18 major economices: BIS
NEW DELHI: Home prices in India have risen by a cumulative 72.3% between 2007 and 2015, the highest growth among a group of 18 major economies, according to a report in Livemint quoting Bank for International Settlements (BIS) data.
Brazil was ranked No. 2 with 61.3% growth in home prices, while Canada, Australia and Germany followed, posting double-digit growth.
Russia is the worst performer, with residential prices dropping 41.47% during 2007-2015.
However, housing prices have not risen continuously, year after year. Home prices have also not fallen uniformly across markets in the country. Prices have been sticky in the last few years and a time correction has taken place, according to a report in Livemint.