According to a survey by consulting company Knight Frank that created a “affordability index” for the third quarter of this year, Bengaluru is the fourth most expensive real estate market in the nation. Bengaluru’s index score is 28%, up from 26% during the same time period previous year. The index revealed that Bengaluru’s affordability has decreased across all markets, mostly as a result of the Reserve Bank of India’s (RBI) 50-basis-point increase in the repo rate in late September.
The increase in the repo rate also resulted in an increase in median loan rates, which has an immediate impact on prospective purchasers’ affordability and affects consumer behavior.
In a study of eight major cities, it was discovered that Ahmedabad in Gujarat, Pune in Maharashtra, and Chennai in Tamil Nadu have maintained their positions as the “most inexpensive housing markets” in the nine months from January to September. The most expensive residential markets were shown to be in Hyderabad and Mumbai.
