Affordable Homes in India Dwindle to 7-Year Low, Report Shows

India’s supply of houses costing less than 5 million rupees ($58,553) fell to their lowest since 2018, a Knight Frank report found, signaling that the trend of developers pivoting away from this segment continues.

The affordable segment saw supply of new housing units plunge to 30,806 in the six months through June, the real estate consultant said in the report last week. The share of this segment in total housing sales has dropped to 22% over this period, versus 54% in the first half of 2018.