As a follow up to our popular Is a housing bubble brewing in South Delhi? post from 2010, we present a timely survey of global home prices from Global Property Guide [HT: BusinessInsider].
Price in New Delhi are up an astounding 25% YoY. One should bear in mind that this increase has occurred in the face of a long interest rate tightening cycle by the RBI, which has been trying to limit the country's seemingly relentless rise in inflation.Moreover, home price increases across most of Asia seem to be slowing as well.
Delhi home prices didn't make sense back when we first wrote about it and they don't make sense now, but Global Property Guide notes that "demand is still expected to pick up, because the Reserve Bank of India (RBI), in its Q3 review of Macroeconomic and Monetary Developments, signaled a pause in monetary policy tightening, in order to fuel economic growth."
There are also signs of life in the US housing market:
"... [The] house price index rose in the last quarter in 27 states and the District of Columbia. When coupled with the fact that about half of all U.S. states saw price increases in the latest quarter, this growth adds to mounting evidence that real estate markets are seeing at least some signs of life..."
Price in New Delhi are up an astounding 25% YoY. One should bear in mind that this increase has occurred in the face of a long interest rate tightening cycle by the RBI, which has been trying to limit the country's seemingly relentless rise in inflation.Moreover, home price increases across most of Asia seem to be slowing as well.
Delhi home prices didn't make sense back when we first wrote about it and they don't make sense now, but Global Property Guide notes that "demand is still expected to pick up, because the Reserve Bank of India (RBI), in its Q3 review of Macroeconomic and Monetary Developments, signaled a pause in monetary policy tightening, in order to fuel economic growth."
There are also signs of life in the US housing market:
"... [The] house price index rose in the last quarter in 27 states and the District of Columbia. When coupled with the fact that about half of all U.S. states saw price increases in the latest quarter, this growth adds to mounting evidence that real estate markets are seeing at least some signs of life..."
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