I happened to be looking at how apartment prices have increased in the last 2 to 4 decades.
A flat that cost about Rs 1 lac (1lac = 100,000) in 1980, cost about Rs 12 lacs in 2000 and about 90 lacs in 2019.
The price of gold was Rs 1.3lac/kg in 1980, Rs 4.4 lac in 2000 and Rs30 lac in 2019 (from https://www.bankbazaar.com/gold-rate/gold-rate-trend-in-india.html).
The cost of the flat works out to 0.77kg of gold in 1980, 2.73kg gold in 2000 and 3kg in 2019.
Just an interesting perspective. I was trying to extrapolate the price of a flat in 2030 or 2040. Probably about 3 to 4kg of gold at the prevailing prices then.
The house price has increased at a CAGR of 12% in the last 40 years and at 10% in the last 19 years.
Of course, I have taken only one data point but I assume the real estate figures provided are ballpark.
Additional Reading
The house price has increased at a CAGR of 12% in the last 40 years and at 10% in the last 19 years.
Of course, I have taken only one data point but I assume the real estate figures provided are ballpark.
Additional Reading
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