Mumbai, Dec 29 (UNI) Indian markets are at their decadal best in terms of housing affordability, according to international property consultant Knight Frank, it was reported here on Wednesday.



Ahmedabad emerged the most affordable housing market in the country with an affordability ratio of 20 percent followed by Pune and Chennai at 24 percent and 25 percent respectively in 2021.



Mumbai was the only one that recorded higher than threshold affordability ratio at 53 percent, however, it has improved the most since 2011, the consultant said.



Affordability ratio in Bengaluru improved from 57 percent in 2012 to 26 percent in 2021.



In NCR, it improved from 38 percent in 2020 to 28 percent in 2021 while Mumbai emerged as the biggest gainer on affordability since 2010.



All markets, except Mumbai, recorded to be well below the threshold of affordability set at 50 percent ratio.



"Despite the pandemic period since early 2020, which has created disruptions in household incomes, housing affordability has further improved. Decline in house prices and multi-decade low home loan interest rates have helped improve housing affordability in 2021," the consultant said.

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