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.

Investors Keen To Buy Properties In Mumbai For Sale

High property rate in Mumbai has never deterred investors from buying a property here. The city inspite of skyrocketing prices still manages to attract investors. Properties in Sub-prime locations such as property in Kandivali West or flats in Kandivali East are the best bets for investments. Properties in Mumbai for sale manage to attract investors as it is very easy to enter or exit the market. Although like other India properties the sales movement of properties in Mumbai for sale has been a little sluggish but experts are saying the market will revive soon.  But even lack of sales movement has not managed to pull the property rate in Mumbai down. Everyone the end-users as well as the builders are playing the wait and watch game.

High property rate in Mumbai has been propelled by high demand lack of space and increase in the ready reckoner rates. Be it property in Kandivali West or flats in Kandivali East all the localities of Mumbai are witnessing a steep rise in property prices. Builders are not ready to reduce their prices as they cite increase in land rates, labour rates and raw materials costs is causing them losses. Like many other India properties Mumbai is too facing a stagnant phase from an end-users perspective. Investors on the other hand are still finding the market extremely attractive. Properties in Mumbai for sale like property in Kandivali West or flats in Kandivali East are still getting good ROI apart from earning decent rentals.  There has been a health investor participation in the Mumbai real estate market in the last few years.

It is seen that ready to move in properties are much higher in demand when compared to under-construction properties as investors consider them hassle free. Also ready to move in properties immediately start earning rentals.

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.