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Property prices fall 1-5% in April-June across top cities: Report
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PHOTO : TIWN
New Delhi, July 7 (TIWN): Property prices across top eight cities in the country declined 1-5 per cent in April-June quarter amid the coronavirus pandemic, according to the Magicbricks Propindex Report Q2.
The volume of active listing of properties on Magicbricks website, too, fell 42.5 per cent during April-June 2020 from the first quarter of this calendar year, it said in a report.
Magicbricks.com is owned by Magicbricks Realty Services, which is a subsidiary of Times Internet, the digital arm of the Times of India Group.
"the real estate prices in the top 8 cities observed a 2-9 per cent decline in April 2020 as an immediate reaction to the crisis. However, the overall price decline in the April-June quarter remained range-bound, with just 1-5 per cent decrease across TIER I cities," Magicbricks CEO Sudhir Pai said in a report.
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