India is ranked number three in realty price rise

The realty rates in India are seeing an all time as the first time buyers are exhausting their savings to buy their dream home. Property rates are increased by 12% in the past year making India rise to the third position among the 53 countries where the prices have rose in the preceding year.

The result of the global house price index survey which was done by the property consultants Knight Frank clearly indicated that Brazil recorded the highest annual growth in terms of property prices at 23.5% in the past year which was followed by Estonia at 13.9%. However the results also indicated that globally the results aren’t so good at they seems.

This index of the property consultants is compiled at a quarterly basis by the firm using official government statistics or central bank data wherever available. This rise in the property prices is undoubtedly good news for the real estate market and also precisely reflects India’s status as a one of the world’s fastest growing economy. However this rise is accompanied by the danger of availability of affordable housing.

In India the metro cities are bearing a huge burden of meeting the job expectancy of the people and they exists massive inflow of population from the other parts of the countries. This can be attributed as the major cause of increasing the realty prices in such cities.