Mumbai is the financial hub of the country, a cosmopolitan city. Earlier, Mumbai’s real estate market was a seller’s market, but after a slump it is soon becoming a buyer’s market. In the last couple of years, Mumbai real estate market had drastically slowed down. The increasing demand, sky-high rocketing prices and the lack in upswing of income caused the Mumbai real estate to take a direct hit. Real estate market showed a downward sloping graph but now gradually the graph is moving upwards and finally the real estate sector is picking up pace. The economy now is picking up and Mumbai real estate finally has something to cheer about.
As compared to the last year, property sales have gone up by 28%. This shows that finally things are moving on the right track and picking up pace. The Mumbai real estate market has mellowed down now; the property builders are offering structured schemes for the buyers. In the past when the prices were hiked up there weren’t any buyers, and hence the inventories piled up. But now as the real estate market has stabilized and trying to win back its luster. The builders are trying every trick in the book to make home buying easy for the buyers. [Read more…]