Sunday, May 8, 2011

Residex update - December 2010

Here is the latest graphic of National Housing Bank's (NHB) Residex index of residential property prices in 6 metropolitan cities from 2007 to December 2010.



The property markets in Delhi, Mumbai, Kolkata, and Bangalore are clearly on their way up. All signs point to a bubble developing in Kolkata. Chennai's blip may be only a short correction. However, given its volatile political situation, Hyderabad remains depressed, being the only city where property prices are still below its 2007 peak.

1 comment:

Amol Agrawal said...

Hi Gulzar,

Did you see my post on this -- http://mostlyeconomics.wordpress.com/2011/05/05/rbi-says-no-asset-bubble-in-india-what-is-the-basis/

The prices in many cities have grwon higher than rates seen in bubble times in US, Ireland, Spain etc.

Amazing how we keep ignoring these trends which are staring in your face.