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Start a DiscussionProperty prices in Bangalore drop by 2.6% in September 2011 - says Makaan.com Property Index
Posted on December 5, 2011Makaan.com Property Index – City level
- Quarter Analysis: Over the last 3 months, the MPI has seen a drop of 5% - it has moved from 1265 in June 2011 to 1204 in September 2011.
- Year-on-Year Movement: As compared to last year, the Bangalore Property Index in September 2011 has increased by 30%. Prices had dropped significantly in the third quarter of 2010 due to the economic slowdown. From thereon, the prices have been rising steadily, with minor highs and lows over the last 3 quarters.
- 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.
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