Housing prices in India have more than doubled since 2007 and residential properties hold strong potential for investment with rates still affordable across cities except Delhi and Mumbai, according to a joint report by KPMG and Magicbricks. India's real estate and construction sector in expected to become the third-largest globally by 2030, doubling its share to over 15 per cent in the GDP, the report 'Residential Real Estate: An Investible Asset' projected. "Over the last decade, affordability to own properties have reduced by 50 per cent as the income growth has lagged property price growth. However, India's property market is relatively affordable as compared to that of its global counterparts," the report said. Overall, residential property holds strong potential as fundamentals like GDP, urbanisation, income growth, savings rate, mortgage growth and affordability are positive.

Source: dna June 29, 2017 14:15 UTC