Mumbai Real Estate market is showing peculiar trends these days. The sales for residential properties have nearly halved as compared to the last year’s overview, reason why? One of the main reasons is that since the IT market rising, NRIs are hardly pumping money into residential properties. Even with of this, the developers have refrained from slashing prices to keep their heads above the water.
Properties market scenarios are showing peculiar trends these days. Buy Residential Property in Mumbai for living celebrity’s life style. The sales for these kinds of residential properties have nearly halved as compared to the previous year’s overview. Main cause is that since IT industry is booming, the person who is living in abroad is hardly pumping money into residential properties investment.
In additional, the demand of Resale Property in Mumbai is increasing because property prices have gone beyond the reach of the common person. A lot of need for residential properties but people is waiting for the prices to come down. Therefore, with the sales dropping over fifty percent as compared to last two year’s overviews, the pressure is mounting on the constructor to slash costs. Hence, discounts on property of anything between 15-16% could be expected soon.
Residential Property Rates in Mumbai has been escalating for the past many years due to limited availability and hurry need, and most of the tenants wished if they could buy a flat and replace the rental payment with installment loan. In additional, this wish was hardly fulfilled with the types of piece range Mumbai real estate residential apartments have been carrying.
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