Property prices in Mumbai are expected to see an appreciation of 6% in 2015, according to property advisory firm JLL India.
"Many home buyers as well as investors have been speculating about the movement of residential property prices in Mumbai. These fence-sitters are watching the market's movements keenly. Their guess is that prices could go down further in the next few months - which in turn has increased their hopes of landing a better deal for their money and delaying their purchase," said Ramesh Nair, COO - operations and international director, JLL India.
"However, the market's readings indicate that that it will start moving up later this year. An average price appreciation of around 6% is expected by the end of Q4 2015," he added. He expects Mumbai's residential property market to start seeing "lot of buying activity in around six months, with buyers taking advantage of prevailing market conditions to get good deals. The increased market activity is expected to continue next year too."
Nair said that builders are already seeing the number of enquiries rise and expect the market to recover in the months ahead. However, it is still a buyers' market with builders offering discounts, freebies, waivers, festive offers and attractive schemes to increase sales velocity.
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MCHI-THANE has always been very clear that fine housing complexes and shopping malls cannot stand in isolation. A great City is the sum total of great buildings, great infrastructure and great people. MCHI has been committed to growth of the real estate sector and is credited with the harmonious growth and rise in quality and standards of construction in Thane City in the past decade.
Its aim as an Association of Developers has been to seek rational rules and regulations which are uniformly applied across the board as this will to a great extent result in speedy construction, cost reduction, fair pricing and a push for better quality standards at par with the developed world, with a high level of transparency.
Contact
501, 5th Floor, Plot No - A-123/4,
Odyssey IT Park, Road No. 9,Wagle Estate
Thane (W) - 400 604, Maharashtra, India
Mobile : (+91) 9833 4583 23 E-mail: mchithane@gmail.com
MCHI-THANE has always been very clear that fine housing complexes and shopping malls cannot stand in isolation. A great City is the sum total of great buildings, great infrastructure and great people. MCHI has been committed to growth of the real estate sector and is credited with the harmonious growth and rise in quality and standards of construction in Thane City in the past decade.
Its aim as an Association of Developers has been to seek rational rules and regulations which are uniformly applied across the board as this will to a great extent result in speedy construction, cost reduction, fair pricing and a push for better quality standards at par with the developed world, with a high level of transparency.
Contact
501, 5th Floor, Plot No - A-123/4,
Odyssey IT Park, Road No. 9,Wagle Estate
Thane (W) - 400 604, Maharashtra, India
Mobile : (+91) 9833 4583 23 E-mail: mchithane@gmail.com
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