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Rental price growth drops 50% in top cities
The Morning Standard
|June 19, 2024
A sharp surge in the supply of new housing units has resulted in a nearly 50% drop in rental price growth in India's top cities during the second quarter of calendar year 2024.
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Property consultant Anarock's data shows average residential rental prices across key markets in top 7 cities saw a 2-4% quarterly rise in Q2, 2024 to date over the preceding quarter. Q1, 2024 saw rents in these markets rise by between 4-9% quarterly against Q4, 2023.
The fall in rent comes as the top 7 cities are set to deliver 5.31 lakh new units in 2024, 22% annual supply rise this year if delivery schedules remain on track. In 2023, these cities saw 4.35 lakh units hit markets.
Esta historia es de la edición June 19, 2024 de The Morning Standard.
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