7% rise in property prices in 8 metros in 2022, single-digit growth expected in 2023.
According to PropTiger, median home prices have risen on average nearly 7% over the past year due to rising construction costs coupled with pent-up demand.
Housing prices remained by and large stable during the 2016-21 period.
The year 2022 saw an appreciation in prices as the rates of key construction materials increased because of global headwinds like the Russia-Ukraine war.