Makaan.com - Property prices in Hyderabad increase by 2.2% in the last 12 months
Property prices in Hyderabad have remained stable in the last one year. As per the latest Makaan.com property index (MPI) for September 2010, real estate prices in the city have increased by 2.2% in the last 12 months. When one further looks at the data; following are the emerging trends.
Monthly Trend: In the last one month, Hyderabad has registered a drop in property prices. The Hyderabad index for August 2010 stood at 961 as against 932 in September 2010, a 3% decrease in the last 30 days.
Quarter Analysis: Over the last 3 months, the MPI for Hyderabad has seen a drop - it has moved from 948 in June 2010 to 932 in September 2010, a 1.7% decrease.
- Year-on-Year Movement: As compared to last year i.e. September 2009, the Hyderabad MPI in September 2010 remained stable and has moved up by a nominal 2.2%. Prices had dropped significantly in the second quarter of 2009 due to the economic slowdown. From thereon, the prices have been rising steadily, with minor highs and lows over the last 3-4 quarters.
City Level: Over the last 1 year, i.e. September 2009 to September 2010, most cities have seen significant increase in property prices. Kolkata, Delhi, Bangalore and Ahmedabad have seen very steep price increases – upwards of 10%. Pune, Mumbai, Hyderabad have seen a price rise of fewer than 10%. Chennai is the only city that has seen a reduction in property prices by 5.5%. These changes have led the National Index to move up by 11.9% over the last 1 year.
- Going forward: The signals from the Indian Economy are quite positive - Industrial output, Exports and the GDP are rising, and jobs are more secure than before. At the same time interest rates are likely to go up, which may make buyers cautious in their purchase decisions. In the current situation one would expect the realty sector to maintain stability of prices.