Home prices in Mumbai may drop 20% over the next year

Q: The reason is record high prices which mark demand amongst oversupply.

Arup rajan, Mumbai

7th August 2015

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Replies (2)

Good morning friends!!!!!
And if i am not wrong, it will take at least 40-45 months to find buyers for unsold inventories in Mumbai. The unsold inventory is between 8-12 months in an efficient market.

Shivshankar, Delhi-NCR

7th August 2015

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@Shivshankar,
But still there is demand for homes at the right price. Developers are getting land at cheaper prices than a few months ago, deals are being stuck at lower prices. So, builders have to negotiate a little bit which in turn will allow to cut selling prices adding to the price correction.

Chandra, Noida

7th August 2015

Very True.....
It is due to an oversupply of homes in Northern suburbs of Thane and Mulund which will lead the declines as developers, overburdened by rising inventory. They are not able to attract prospective customers with cheaper offers.

Chandra, Noida

7th August 2015

Comment

I agree with Chandra,
Buyers are sitting on the fence, nobody's in a hurry to buy. And now developers are in huge trouble and getting tired. There is definitely pressure in the Mumbai property market. Sales motion has slowed.

Saran,

7th August 2015

As they bow so will they reap......it is a very famous proverb and builders have to follow it. s per latest report Mumbai homes prices dropped almost 2% in the June qtr. from the record of Rs. 13120/sq-ft. set in the qtr. ended 31st December.

Chandra, Noida

7th August 2015