Buyers interest in secondary homes

Hi Sanjana
The prices on Mumbai’s secondary sales market will have to come down so as to sustain buyer interest. Moreover, given the pricing war being waged by the primary sales market, the situation does not call for a mere softening of prices, but a full-scale correction in the resale property prices.
Registration data over the past three quarters reveals that an increasing number of Mumbai’s home buyers and investors are moving towards new launches. Their objective is to capitalize on the significant price advantage that these projects offer. With discounts hitherto unheard of in Mumbai’s notoriously pricey residential market, the visible shift in the preferences of potential buyers from the resale to the primary market presents no mystery.