Repo rate impact: Property prices likely to plummet

With the Reserve Bank raising repo rates to 8.5 per cent, people can expect a downturn in property prices. Experts predict a further slide of 5 to10 per cent in prices over the next quarter. 'If the sentiment remains the same and the mortgage rates go up, the demand as well as prices are likely to dip,'' chairman and MD, CB Richard Ellis, Anshuman Magazine said.