Скачать или смотреть Delhi, Mumbai Least affordable cities | Housing prices go through the roof

If you’re looking to buy a home in Delhi or Mumbai, well you might be out of luck.
Housign prices in these 2 top India cities have become almost unaffordable.
According to a latest report by Magicbricks, these 2 top Indian cities have been termed as the least affordable cities.
Property prices in Mumbai and Delhi have surged at such a scorching pace that has outstripped household income growth, creating significant challenges for potential homeowners.
The report says there's a notable disparity in property affordability across major cities in India.
According to the report Chennai, Ahmedabad, and Kolkata have emerged as the most affordable metro cities for residential investments. This means that for homebuyers in these cities, the cost of purchasing a home is relatively lower when compared to their annual income, making these markets more accessible.
While household incomes across the top 10 cities have increased at a compound annual growth rate (CAGR) of 5.4% between 2020 and 2024 property prices have surged 9.3 % in this period.
According to the report, the affordability rate indicates the Portion of property price to annual house hold
Income.. also called the P/I ratio. If the P/I ratio for a city, it means 3.7 the average property price in the city is 3.7 times the average annual household income
In Delhi and Mumbai, the ratio is notably high, reflecting the fact that property prices have escalated faster than income levels.
This discrepancy means that even though household incomes have increased, buying a home in these cities has become increasingly difficult.
Conversely, Chennai, Ahmedabad, and Kolkata exhibit a more balanced P/I Ratio. In these cities, property prices have not risen as quickly as incomes, which improves affordability and offers better prospects for homebuyers.
The real estate market in thESE metropolitan areas is influenced by several factors, including demand-supply dynamics, economic growth, and infrastructural developments.
While cities like Delhi and Mumbai continue to attract high demand and investment, property prices go through the roof, making then out of reach for a vast majority.

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