Indian housing prices begin to drop!

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A labourer checks the solar panel of a street light at a solar housing complex in Kolkata.

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Housing prices have begun to drop!

Figures tell the story

There was a slight increase in absorption levels during January-March 2009 compared to that in October-December 2008 (see Road to Recovery?). Along with reduction in prices, the total area sold per unit has also come down.

So, what has led developers to reduce prices now? To answer this question, let's look at the developments in 2008.

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Image: A labourer checks the solar panel of a street light at a solar housing complex in Kolkata.
Photograph: Parth Sanyal/Reuters

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