Mumbai Real Estate Sees a Slump

Real Estate Mumbai at Makaan.com

Real estate Mumbai has always been in the news for high property prices. Rise in prices has been due to lack of space or high demand. Over years buying a property for sale in Mumbai has become a matter of prestige. Artificially inflated prices and lack of strict government rules have made price spiral of residential property in Mumbai almost uncontrollable.

People who are working in the city are keen to invest in residential property in Mumbai, as most of . Luxury property for sale in Mumbai too is in high demand. People also looking forward to invest in residential property in Mumbai to earn a handsome rental income. Many places particularly fetch very high rental income for example flats in Andheri West are able to attract handsome rental. Living in a Andheri West property offers good connectivity to all parts of the city and therefore properties over here are in high demand. Flats in Andheri West offer the convenience of living in a good neighborhood. Many people also prefer to live in Andheri West property as the place is centrally located and hence it become convenient for the whole family. Also since many well-known colleges, institute and offices are located in Andheri, Powai, Sakinaka area many people look to take flats in Andheri West on rent. 

Real estate Mumbai has always invited huge investments, even though in the last few years things have slowed down for the city's realty market, the prices of properties have not come down. Many end-users are endlessly waiting for a price correction, but builders are not letting the realty rates to come down. Many builders who are sitting on a huge stock of unsold inventory are ready to give discounts and freebies but they are unwilling to bring the rate of the properties down.