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Price rise continues in property: Kim Eng

Comments(2) Sub Category:Mumbai,Realty News Posted On: Aug 21, 2012

Brokerage firm Kim Eng Securities in their recent report have stated that despite a slowdown in the real estate market, property prices continue to rise.

Residential property prices have risen 33 per cent in Greater Noida, 30 per cent each in Noida, Gurgaon and Mumbai and 35 per cent in Chennai over a period of one year ended June 2012.

However, slowdown is witnessed in the demand space, as the housing loan growth has declined from 17 per cent in June 2011 to 15.2 per cent in June 2012. The price rise is being fueled by the increase in cost of credit, input and labour. The analysts maintain that it is due to a supply constraint that leads to rise in property prices.

To read more real estate news:

Real estate is expected to boom in Khar Danda area

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