Average housing prices rose by around 20 per cent in the last two years across the top eight cities on rising demand, according to a report by CREDAI, Colliers and Liases Foras.
These eight cities are: Ahmedabad, Bengaluru, Chennai, Delhi NCR, Hyderabad, Kolkata, Mumbai Metropolitan Region (MMR), and Pune.
In a joint statement on Wednesday, realtors' body CREDAI, real estate consultant Colliers and data analytic firm Liases Foras said "prices across the top eight cities in India surged by about 20 per cent in the last two years (2021-2023)."
Bengaluru, Delhi NCR, and Kolkata have witnessed the highest rise in average housing prices at about 30 per cent in 2023 compared to 2021 levels, it added.
"The current state of real estate is the most productive when sales, supply, and prices are growing, and the price rise is not speculative. These factors work in harmony in a balanced and healthy real estate market,” said Pankaj Kapoor, Managing Director, Liases Foras.
