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India among top 10 price appreciating housing markets in Q2: Report

India's residential sector out-shined matured markets such as China

Press Trust of India  |  Mumbai 

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The growth in mainstream in India has landed it a place among top 10 international in Q2 2017, a recent survey said.

According to Knight Frank's Frank Global House Price Index, India stood ninth among 55 international - 13 spots above its position on the index over April-June 2016.

It even bettered the performance over the previous quarter wherein it ranked thirteenth, it said.

At an annual price appreciation of 10.5 per cent India's residential sector out-shined matured such as (9.6 per cent) and did nearly four times better than the price rise recorded in the United Kingdom (2.8 per cent), the report revealed.

"The residential sector in select tier-II cities such as Kochi, Lucknow and Kanpur have triggered the price growth. However, in most metro cities such as and have not shown significant performance," Chief Economist and National Director - Research Samantak Das said.

Overall nearly 90 per cent of the 55 housing witnessed a flat or positive price growth in the 12-month period to June 2017.

Iceland topped the index with a year-on-year price rise of 23.2 per cent followed by (21.1 per cent). Prices in both the primarily strengthened owing to limited supply and a healthy surge in demand, it added.

Meanwhile, matured such as Singapore and Japan saw negative growth, while emerged as Asia's strongest market in the 12-month period.

First Published: Fri, September 08 2017. 04:18 IST