Mumbai: Property prices across India’s 13 prime cities increased 18.8% from a year ago and 3.97% sequentially during the quarter ended December, a report said. Gurugram (32.1%), Greater Noida (31%), Noida (26.1%) and Hyderabad (15.8%) saw the sharpest year-on-year appreciation, showed the Magicbricks Propindex Report for the quarter.

The demand increased 2% from a year ago but declined 16.9% sequentially primarily due to rising property prices, the report noted.

Residential supply (listings) reduced by 16.9% from a year earlier, but Mumbai (4.2%) and Hyderabad (0.4%) saw an increase in supply.