Property Prices In Mumbai Discourage People To Buy A Property

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.

High Property Prices In Mumbai Force People To Look At Navi Mumbai For Investment

In the last few years, property prices in Mumbai have touched a new high forcing people in the city to stay away from the real estate market. India property Mumbai is discouraging buyers from making an investment in the city as buying India property Mumbai is proving to be very expensive. But not all is lost for people who are looking to buy a property sale in Mumbai. Although property prices in Mumbai are very high making India property Mumbai virtually unaffordable one can look to invest in Navi Mumbai, Mumbai’s satellite city.

In the last decade realty market of Navi Mumbai has shown an impressive growth. Flats in Kharghar and flats in Panvel are in high demand due to fast pace of development. Here the transactions of property sale are also much higher compared to Mumbai. The city of Navi Mumbai has taken a planned approach towards development. With Navi Mumbai international airport receiving the final nod the prices of flats in Kharghar and flats in Panvel have gone up dramatically, even the rental income has increased here.

Many people also feel that the India property Mumbai market has saturated as high property prices in Mumbai is not attracting investors anymore. On the other hand the property market of Navi Mumbai has been showing a lot of potential. Therefore while property prices in Mumbai have become increasingly unaffordable, Navi Mumbai till now offers numerous options for to people in the affordable range. Flats in Kharghar and flats in Panvel and several other residential housing easily fall within the range of Rs 30-50 lakh. So if you are looking to invest in India property Mumbai and your budget is low you can easily choose to invest in Navi Mumbai. Here it is easy to find a property sale which lies in the affordable and reasonable range.