The real estate market in Hyderabad has been seeing only upwards over time and in a not-so-strange update, Hyderabad is now ranking second in ‘most expensive housing markets’ in the country.
According to the Affordability Index by Knight Frank India, Hyderabad has secured the second spot as the most expensive housing market in terms of EMI (Equated Monthly Instalment) to income affordability ratio.
The index measures the proportion of household income needed to fund the monthly EMI for a housing unit. Hyderabad’s housing market carried a ratio of 31 percent in the first half of 2023. It increased from 20 percent recorded in 2022.
Meanwhile, Mumbai City continued to remain the most expensive housing market in India and the ratio went up to 55 percent in 2023 from 52 percent in 2021.
The most affordable housing market among the top eight cities turned out to be Ahmedabad with a 23 percent ratio followed by Kolkata and Pune each at 26 percent.
This post was last modified on 17 August 2023 10:19 pm
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