India Property Market Data and Outlook for Overseas Buyers

City-centre apartments in India averaged $1,642 per m² in 2023, against $877 outside the centre. Gross rental yields in city centres stood at 2.7% and the price-to-income ratio at 13.3 (2024).

Apartment price per m²
$1,642
2023
Gross rental yield
2.7%
2024
Price-to-income ratio
13.3
2024
GDP growth
7.6%
2025
Inflation (CPI)
2.4%
2025
Population
1464 million
2025

India property market charts

Apartment price per m²
Source: Numbeo. Details →
Gross rental yield (city centre)
Source: Numbeo. Details →
GDP growth, inflation & unemployment
Source: World Bank. Economy data →
Price per m²: India vs Southern Asia
Source: Numbeo. Details →

India pairs the fastest growth among major economies, at 7.6% (2025), with housing that costs only about $887 per m² in city centres (2024). The India real estate market 2026 therefore looks cheap, yet gross yields are a thin 2.7% and foreign ownership rules are strict. Read the numbers before you browse property for sale in India.

Low prices per m², high prices to income

City-centre homes average $887 per m² (2024) and outside-centre homes $877 per m² (2023). The near-identical figures show how thin and uneven the sample is; prime Mumbai, Delhi NCR, Bengaluru and Hyderabad locations price far higher than national medians, while tier-two cities cost a fraction.

Average monthly net salary is about $417 (2024), putting the price-to-income ratio at 13.3 (2024). Homes are hard to afford for many urban households, which is why mortgage-financed buying by salaried professionals drives the market. See apartments for sale in India, villas for sale in India and land for sale in India.

IndicatorValueYear
Price per m², city centre$8872024
Price per m², outside centre$8772023
Price-to-income ratio13.32024
Gross rental yield, city centre2.7%2024
Price-to-rent ratio36.92024
Mortgage rate, 20 years9.0%2023

Yields trail interest rates

Gross yield of 2.7% (2024) is far below the 20-year mortgage rate of 9.0% (2023). A one-bedroom in the centre rents for about $270 a month (2024). Indian buyers accept this because they expect capital gains and treat property as a store of wealth, but an investor relying on rent will see negative carry.

Real-estate regulation improved with the RERA framework, which requires project registration and escrowed buyer funds. Even so, delays in delivery of off-plan units are common, so check the developer's track record.

Read more (3 more sections)

Economy: scale and growth

GDP is about $3.96 trillion, with growth of 7.6% (2025). The population is 1.46 billion, growing 0.9% (2025). Inflation was 2.4% (2025), unemployment is 4.2% (2025) and government debt is 84.8% of GDP (2024). Corporate tax is about 34.9% (2024) including surcharges, and GST is 18% (2024) on many services. The corruption index scores 39 (2024).

Urbanisation, a growing middle class and government infrastructure spending support demand. Credit is widely available to residents; foreign nationals are a different case. See the India financing guide.

India's market has scale and growth, but the buyer who can actually act on it is mostly an Indian resident or an NRI, not a foreign national.

— RealEstateAbroad market note

Who may buy: the rules matter most

Under foreign-exchange rules, Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs) may buy residential and commercial property but not agricultural land, plantation property or farmhouses. Foreign nationals not of Indian origin who are non-resident generally cannot buy immovable property, with narrow exceptions such as residents holding certain visas. Rules and exceptions change, so confirm your status with an Indian lawyer.

Our India buying guide outlines due diligence, stamp duty and registration, which vary by state.

Outlook

Growth, urban migration and RERA reforms support the market, while high rates and affordability keep entry costly. Tier-one city prices have risen strongly; value may lie in infrastructure-led corridors. For lower budgets, see cheap properties in India and properties under $100k in India, and test purchases with the valuation tool.

Last updated 8 October 2026

Real estate in India

City-centre apartments in India averaged $1,642 per m² in 2023, against $877 outside the centre. Gross rental yields in city centres stood at 2.7% and the price-to-income ratio at 13.3 (2024).

Real estate indicators for India
IndicatorValueYear
Apartment price per m² (city centre)Average asking price per square metre to buy an apartment in city centres$1,6422023
Apartment price per m² (outside centre)Average price per square metre to buy an apartment outside city centres$8772023
Price-to-income ratioMedian apartment price divided by median annual disposable family income13.32024
Gross rental yield (city centre)Annual rent as a percentage of purchase price, city-centre apartments2.7%2024
Price-to-rent ratio (city centre)Purchase price divided by annual rent, city-centre apartments36.92024
Rent: 1-bedroom, city centreAverage monthly rent of a one-bedroom apartment in the city centre$270/mo2024
Rent: 1-bedroom, outside centreAverage monthly rent of a one-bedroom apartment outside the centre$136/mo2023
Rent: 3-bedroom, city centreAverage monthly rent of a three-bedroom apartment in the city centre$515/mo2023
Rent: 3-bedroom, outside centreAverage monthly rent of a three-bedroom apartment outside the centre$308/mo2023
Mortgage interest rate (20-year fixed)Average yearly mortgage interest rate, 20-year fixed9.0%2023

India house prices & rental yields in detail →

Economy in India

Real GDP growth was 7.6% in 2025, with GDP per capita of $2,702. Consumer price inflation was 2.4% and unemployment 4.2% (2025).

Economy indicators for India
IndicatorValueYear
GDPGross domestic product, current US dollars (billions)$3.96 trillion2025
GDP per capitaGross domestic product per person, current US dollars$2,7022025
GDP growthAnnual real GDP growth7.6%2025
Inflation (CPI)Annual change in consumer prices2.4%2025
Unemployment rateUnemployment, % of labour force (ILO modelled estimate)4.2%2025
Bank lending rateAverage bank lending rate to the private sector8.6%2022
Central bank policy rateBenchmark central bank interest rate (year-end)6.5%2024
Government debt to GDPGeneral government gross debt, % of GDP84.8%2024
Household debt to GDPHousehold debt as a share of GDP42.7%2024
Average monthly net salaryAverage monthly salary after tax$4172024
Corruption Perceptions IndexHigher is cleaner (0 = highly corrupt, 100 = very clean)392024

Demographics in India

India has a population of 1464 million (2025), 35.7% of whom live in urban areas. 7.4% of residents are aged 65 or over.

Demographics indicators for India
IndicatorValueYear
PopulationTotal population (millions)1464 million2025
Population growthAnnual population growth0.9%2025
Urban populationShare of the population living in urban areas35.7%2025
Life expectancy at birthLife expectancy at birth, total72.22024
Population aged 65+Share of the population aged 65 and above7.4%2025
Population

Quality of life & cost of living in India

India scores 111.8 on Numbeo's Quality of Life Index (2024). A meal at an inexpensive restaurant costs about $2.38 and a one-bedroom city-centre flat rents for about $270 a month.

Quality of life & cost of living indicators for India
IndicatorValueYear
Quality of Life IndexComposite index (higher is better)111.82024
Safety IndexPerceived safety (higher is safer)55.72024
Health Care IndexPerceived quality of the health care system64.92024
Pollution IndexPerceived pollution (lower is better)72.82024
Climate IndexClimate likeability (higher is more pleasant)63.32024
Utilities for an 85 m² apartmentElectricity, heating, cooling, water and garbage, monthly$43.25/mo2023
Internet (60 Mbps+)Unlimited broadband, monthly$8.70/mo2023
Mobile plan (calls + 10GB)Monthly mobile phone plan$4.01/mo2023
Meal, inexpensive restaurantCountry median of city prices$2.382024
Dinner for two, mid-range restaurantThree-course meal for two, country median of city prices$10.122024
CappuccinoRegular cappuccino, country median of city prices$1.552024
Public transport monthly passCountry median of city prices$11.912024
Gasoline (1 litre)Country median of city prices$1.232024
Fitness club membershipCountry median of city prices$17.91/mo2024
Private preschool (full day)Country median of city prices$59.06/mo2024
International primary schoolCountry median of city prices$741/yr2024
Quality of Life Index vs Safety Index vs Health Care Index

Cost of living & quality of life in India →

Taxation in India

India applies a top personal income tax rate of 42.7%, corporate tax of 34.9%, a standard VAT/sales tax rate of 18.0%.

Taxation indicators for India
IndicatorValueYear
Top personal income tax rateHighest statutory marginal rate on personal income42.7%2024
Corporate income tax rateHeadline statutory corporate income tax rate34.9%2024
VAT / sales tax (standard rate)Standard value-added or sales tax rate18.0%2024
Top personal income tax rate vs Corporate income tax rate vs VAT / sales tax (standard rate)

Tax rates in India →

India property market FAQ

Can foreigners buy property in India?

NRIs and OCIs can buy most residential and commercial property but not agricultural land. Other foreign nationals face significant restrictions, so verify your status with a lawyer.

What are property prices in India?

City-centre homes average about $887 per m² (2024) in our data, but Mumbai, Delhi and Bengaluru sit far above that.

Is rental yield good in India?

Not by international standards: about 2.7% gross (2024). Investors mostly seek capital gains.

What is RERA?

The Real Estate (Regulation and Development) Act requires projects to register with state authorities and protects buyers' funds. It improves transparency but does not remove delivery risk.

How high are mortgage rates?

The 20-year rate was about 9.0% (2023), well above the yield, so leveraged investment relies on appreciation.

Sources & methodology

Figures are the latest available per indicator; the year is shown next to each value. Macro data come from the World Bank (World Development Indicators) and IMF World Economic Outlook, property prices, rents and quality-of-life indices from Numbeo, and headline tax rates from PwC Worldwide Tax Summaries. Missing values are left blank rather than estimated.