연구정보
[경제] House Prices in India: How High, and for How Long?
인도 국외연구자료 연구보고서 - CSEP 발간일 : 2023-10-27 등록일 : 2023-11-12 원문링크
Addressing the nation on Independence Day, 2023, the Prime Minister announced that the government is working on an interest relief scheme to help urban residents living in rented housing, slums, and chawls own a house. The intent is well-placed since access to housing is a prerequisite for a dignified life, and yet, it remains unattainable for a significant proportion of Indians; 17% of all urban households live in slums. The situation is especially grave in India’s bigger cities—41% of households in Greater Mumbai, 30% in Kolkata, and 29% in Chennai live in slums. Successive governments have focused on providing housing to the disadvantaged, arguably the most notable efforts being the Indira Awas Yojana (IAY) for rural areas, and the ongoing Pradhan Mantri Awas Yojana (PMAY) for urban areas. Given the scale of the housing deficit, despite a significant push by the government to resolve this problem, it is imperative to understand two fundamental questions: (a) How expensive is housing in India, and why? (b) What explains the tepid increase in house price growth over the last 7–8 years? Answering these questions will provide clarity on how to tackle this challenge going forward.
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