Property prices gone up, demand gone down: Liasis Foras
According to real estate research firm Liasis Foras, the period between Q4 2010-11 and Q4 2011-12 was characterised by low volumes and high prices.
In the period, the demand for real estate in six major markets of India – Mumbai, Delhi, Kolkata, Chennai, Pune and Bangalore – fell by around 40 per cent on an average.
In the period the same period, property prices in most of these markets had increased significantly – NCR (National Capital Region) by 33 per cent, MMR (Mumbai Metropolitan Region) by 17 per cent, Bengaluru, Chennai and Pune by around 5-8 per cent.
The scenario led to a reduction in the number of project launches as well – residential project launches in Delhi-NCR, Mumbai and Bengaluru have dropped by 30-50 per cent in a year.
The firm further stated that the period of uncertainty marked with high price rise is to remain unchanged in near future.
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