The property is on boom in Mumbai continuing for the past four years which has lead to as much as 300 percent appreciation in the Mumbai property prices, including the suburban areas of the city as well. But the current market correction is expected to result in prices falling to almost 25 percent in some areas of Mumbai.
The Mumbai Real Estate Developers were holding on to the properties for long but now they are releasing them as the market is no longer buoyant. Mumbai has recently been announced as the Asia’s third and the world’s sixth most expensive location to the rent with three-bedroom apartment. However, Mumbai real estate builders are the optimistic as ever. Owing to the fact that people are vying to buy an apartment in Mumbai and the demand is robust but the supply is limited, the developers feel that there can never really be a crash in the residential property market of Mumbai.
There are Apartments for rent in Mumbai in an affordable price. The demand for all property types in Mumbai outstrips the supply, anytime. Due to this the demand-supply mismatch, although there would be a market correction in the residential sector of Mumbai, still it is going to be a task for a common man to get a home in Mumbai. There are number of Residential flats for sale in Mumbai available in different locality. There are residential flats for sale in Mumbai available in an affordable price. Moreover, the realty slump world over is leading to the Mumbai properties being flocked by the foreign investors because of its strategic location.