Latest update and report on Mumbai Property/Real Estate Market – 2021
By: Narains Corp
Luxury properties, Lifestyle homes, high end properties in Mumbai are sought out by owners of leading business houses, tech giants, Corporate houses, businessmen, diamond traders, stock market giants, Pharma company owners, Sports & film celebrities etc with different preferred locations on Bombay city. They could be looking at buying or renting or wanting let out their properties, apartments, penthouses, duplex, terrace flats, plush offices, retail stores or showrooms or property for banks and alike in prime locations of Mumbai.
Mumbai being surrounded by the ocean, beaches and sea, sea view or sea facing apartments are most sought after in Juhu, Bandra, Worli, South West Mumbai. The demand usually supersedes the supply. Such premium properties have managed to sustain prices but we have been seeing resistance from buyers in the last 2/3 years and price correction of 15-20% has already taken place in 2020 and we foresee another 10-15% drop in the remainder of 2021 across the cities overall residential and commercial property capital values/sale price and also in rentals.
With the current vaccination drive for Covid, we hope and pray the situation for mankind changes and improves. Post which we predict a strong and robust property scenario in Mumbai over years 2022/23/24. By 2025 the real estate market would have revived and perhaps will see a new high/peak, so property investment is highly recommended in 2021- 2022 as prices are at the bottom of the cycle and looking out for real estate investments now would be a wise idea.
Article dated: 6.04.21
Real Estate & Mumbai Property Market Review & Future Predictions – By Chetan D Narain, Leading Property Consultant and Real Estate Expert in Mumbai. Ex Columnist Times of India & Economic Times on Real Estate as an Industry Expert, RICS Property Valuer & Analyst.
For Further Details: http://www.narains.com/