Many people are taking property on rent in Mumbai as they are not able to buy properties in Mumbai for sale due to high prices. Property prices in Mumbai are rising continuously making property unaffordable for the common man. Properties like Kandivali East property, flats in Panvel, etc which were once affordable are not longer within the reach of common man. As the demand of property on rent is also increasing so are the rentals earned by properties of the city like Kandivali East property, flats in Panvel, etc. The demand and supply mismatch of properties in Mumbai for sale is causing the property prices to see an astronomical hike.
Looking at the spiraling property prices in Mumbai most of the investors are shying away to invest in the market. High property prices in Mumbai mean low ROI, one can see last year the city's properties gave on 3% appreciation and in 2016 the properties in Mumbai for sale are expected to give just 6% appreciation. With such low returns investors are mostly shying away to invest in properties in Mumbai for sale like Kandivali East property, flats in Panvel, etc.
The end-users too are not able to buy property in the city due to high property prices in Mumbai. To fulfill their accommodation needs they are taking property on rent. The high property prices in Mumbai are baffling all property stakeholders. The city is already termed as one of the most expensive cities globally if the property prices continue to grow then the day may not be far when the city becomes the most expensive global city. The state government should take immediate steps in an attempt to reduce the demand and supply mismatch and make properties of the city like Kandivali East property, flats in Panvel, etc. more affordable for the common man.
Looking at the spiraling property prices in Mumbai most of the investors are shying away to invest in the market. High property prices in Mumbai mean low ROI, one can see last year the city's properties gave on 3% appreciation and in 2016 the properties in Mumbai for sale are expected to give just 6% appreciation. With such low returns investors are mostly shying away to invest in properties in Mumbai for sale like Kandivali East property, flats in Panvel, etc.
The end-users too are not able to buy property in the city due to high property prices in Mumbai. To fulfill their accommodation needs they are taking property on rent. The high property prices in Mumbai are baffling all property stakeholders. The city is already termed as one of the most expensive cities globally if the property prices continue to grow then the day may not be far when the city becomes the most expensive global city. The state government should take immediate steps in an attempt to reduce the demand and supply mismatch and make properties of the city like Kandivali East property, flats in Panvel, etc. more affordable for the common man.
No comments:
Post a Comment