Property prices on downward trend; best time to make an investment: Makaan.com Property Index July-Sept 2013
The last quarter’s Makaan.com Property Index [“MPI”] brings good news for all who have been waiting since long to own a dream house and hoping for a property price reduction. The aspiring and potential homeowners can now have a sigh of relief as this might be the best time to make an investment in major key property markets. The real estate industry that has been experiencing the absence of buyers can also hope to welcome some as the festive season is now clubbed with the last quarter’s positive MPI.
The home buyers and investors should prepare themselves to bring together all the income sources as Makaan.com brings you detailed and reliable market research and analysis that signifies good news for the homebuyers. The festive offers and the property prices showing downward trends can only motivate more transactions. The real estate market in India has started to show some amount of stability in property prices. The prices that always showed a rapid upward trend are now slowing down to embrace the buyers. The July-Sept. 2013 MPI portrays that the national trends are favorable for the home buyers.
The National Situation
The National level index provides just the right amount of "push" a buyer needs for investing in real estate and fulfilling the dreams. Prices for property on a National level show a stabilized trend. The latest figures for July-Sept. 2013 from the real estate market research and analysis point to a nation-wide decrease of 1.2%. Therefore, the prices for the quarter have gone down by 1.2% and can be declared as being stable.
The good news does not end there. The National MPI, moreover, represents only a 0.7% increase over the last 12 months.
A regional outlook over the 8 most real estate active regions in India:
> Delhi, Bangalore and Hyderabad calling: Prices on Downward trend
Over the span of three months, the MPIs for Delhi, Bangalore and Hyderabad display a very interesting trend. The buyers interested in investing in the real estate market of these key property areas should rejoice as July-Sept. 2013 MPI shows a decrease.
The Delhi MPI shows a decrease of 3.1% over the quarter. This is a positive move and the home buyers can hope for further reductions as the year nears its end.
The Bangalore MPI has shown a major dip of 7.3% over the quarter. This only means that this might be the best time for investing in the market.
For July-Sept. 2013, the Hyderabad MPI shows a decrease of 5.9%. Although, Hyderabad is one of the very few cities that has seen an increase in the property prices in the last 12 months, the trend for quarter seems favourable for the home buyers.
>Kolkata: Increased index
Over July-Sept. 2013, only the real estate active city of Kolkata saw an increase of property index. The investors of Kolkata should wait for some time for the property prices to stabilize or depreciate.
> Stability gained in Mumbai, Chennai and Ahmedabad
The cities that show stabilized MPI over the quarter are Mumbai, Chennai and Ahmedabad. The homebuyers should be on a look out as the property prices in these regions will probably tend to be stabilized and maintain their high-end investment potential over the next few months.
For July-Sept. 2013, the Mumbai MPI shows an increase of only 1.8%. Therefore, the trend for quarter can be said as stabalised and it seems favourable for the home buyers. The Chennai MPI shows a decrease of 1.7% over the quarter. This is a positive move and the home buyers can hope for further reductions as the year nears its end.
> Clear Objectives of MPI
Makaan.com Property Index (MPI) is part of MakaanIQ, the research and analysis website of Makaan.com that has been bringing out property intelligence & research reports for the benefit of homebuyers and real estate industry. The index is based on a minimum database size of 20,000 data points every month and the analysis have been drawn over a period starting Jan’09. The complex algorithm takes into account the property prices as base and then factors in the demand and supply of residential properties for each of the cities covered by it. Utmost care has been taken to give weight age to cities in line with the size of underlying property market.
The MPI is the most up-to-date sample of residential property asking prices. The index monitors changes in house prices monthly, annually and yearly, providing a comprehensive view on the present state of the property market in India.
Be on the lookout for Makaan.com Property Index to make your move in the real estate market can be very valuable indeed, as it is updated every month and carries substantial and reliable data. MPI is as good as an encyclopedia for the real estate industry bases its findings on extensive property market research and analysis. For details check MPI or log on to MakaanIQ.