Hyderabad is the second most expensive market with a ratio of 31%, Knight Frank India in its proprietary Affordability Index has cited. In the first half of this year, the city has witnessed 1% increase in the ratio from 30% in 2022.
Mumbai occupied the first position with a ratio of 55%, up from 53% last year. National Capital Region of Delhi has a ratio of 30%, up from 29% followed by Bengaluru with 28%, up from 27%, according to its latest report released on Wednesday.
Higher home loan rates have reduced affordability across all markets so far in 2023. Ahmedabad is the most affordable housing market among the top eight cities, with a ratio of 23% followed by Pune and Kolkata at 26% each.
