Average housing prices appreciated nearly 5% across eight major cities in India the in the first nine months of 2022, which is attributable to a rise in input costs and a strong revival of demand, according to a report by property brokerage firm PropTiger.com.
According to the report, the weighted average prices of residential properties in primary markets stood at Rs 6,600-6,800 per square foot at the end of the September quarter, as against Rs 6,300-6,500 per sq ft at the end of the December quarter, across these eight cities.
“We are witnessing a modest price increase in the primary housing market. This is mainly because of the sharp rise in prices of key raw materials like cement and steel,” the company's group CFO Vikas Wadhawan said.
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