Business Standard

Covid hit India's residentia­l market harder than US, Brazil

- Compiled by ARNAB DUTTA

The Covid-19 pandemic impacted India’s residentia­l market harder than many other economies that severely suffered during second waves. A latest report by Knight Frank shows that countries like the US and Brazil — that rank with India at the top of the list of nations with the most number of cases and casualties — registered growth in housing prices, indicating better demand. Average home prices in India, however, fell on a yearon-year (YOY) and quarter-on-quarter (QOQ) basis during the June quarter. Overall, housing demand in developed economies remained better with the top ten economies registerin­g double-digit price growth, while key developed markets saw 4.7% growth YOY.

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