Property prices in Hyderabad dropped by 4.5% in December 2011 - says Makaan.com Property Index
Makaan.com Property Index – City level
- Monthly Trend: The property prices in Hyderabad have dropped by 4.5% in the last one month. The Index in December 2011 stands at 1028 as against 1076 in December 2011.
- Quarter Analysis: Over the last 3 months, the MPI has seen a drop of 11.7% - it has moved from 1164 in September 2011 to 1028 in October 2011.
- Year-on-Year Movement: As compared to last year, the Hyderabad Property Index in December 2011 has remained stable. Prices had dropped significantly in the quarter of 2011 due to the economic slowdown. From thereon, the prices have been rising steadily, with minor highs and lows.
- City Level: Over the last 1 year,i.e. between December 2010 to December 2011, all the cities saw a significant increase in property prices. Property prices in Kolkata, Bangalore and Chennai witnessed maximum appreciation.
- Going forward: Indian Real Estate market is going through a challenging phase with multiple macro economic headwinds like poor liquidity for developers, increased cost of construction, high land prices, delayed projects, high interest rates. These factors are keeping the home buyers away from the market. Over the coming months the property prices in India are likely to move in a narrow range with a slight negative bias.
Last Updated: Fri Feb 17 2012