Property prices in India remain stable in November 2012 - Says Makaan.com Property Index
Makaan.com Property Index – National
Monthly Trend: At the National level, the property prices remained stable in the last one month. The Index in November 2012 stands at 1477 as against 1498 in October 2012.
Quarter Analysis: Over the last 3 months, the MPI Figure has seen a drop of 2.0% - it has moved from 1507 in August 2012 to 1477 in November 2012.
Year-on-Year Movement: As compared to last year i.e. November 2011, the MPI in November 2012 has remained in the same lines. Prices have been rising steadily, with minor highs and lows over the last year. The MPI figure in November 2011 was at 1469 and has moved to 1477 in November 2012.
Makaan.com Property Index – City level
Monthly Trends: In the last one month most cities have seen much stability in property prices.Property prices in the key property markets: Kolkata, Ahmedabad and Hyderabad remained stable. Bangalore and Pune registered an increase, while Mumbai, Chennai and Delhi witnessed a depreciation.
Quarter Analysis: Over the last quarter, i.e. between August 2012 to November 2012, there are mixed upwards and downward swings in property prices across the cities. Mumbai and Delhi registered a drop whereas Bangalore, Kolkata and Pune registered a rise. Ahmedabad and Hyderabad remained stable.
Year-on-Year Movement: Over the last 1 year, i.e. between November 2011 to November 2012, most cities have seen stability in property prices. Only Bangalore and Pune registered a significant appreciation. A drop was registered in Delhi, Chennai and Hyderabad property prices while Mumbai, Kolkata and Ahmedabad property prices remained stable.
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.