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News & Views on Indian Real Estate

Friday, August 08, 2008

Property Prices May Decline In Mumbai


According to an industry survey, property rates in Mumbai, especially the suburbs might drop by 15 to 20 percent in the coming months. The survey, conducted by real estate consultancy firm, Jones Lang LaSalle Meghraj (JLLM), links the price drop to liquidity crises among builders, high interest rates and inflation. "It's It’s an over-rated market, and builders are facing money crises. We expect a price correction of 15 to 20 percent in the next few months." However, the decline in prices may not happen in up market localities like Bandra, Juhu and Peddar Road as the demand here is higher than supply.

Anonymous said...

High interest rates ..which still look to go higher, High inflation, slowdown..credit crisis, and property prices more than trebled in last 3-4 years in Mumbai and these consultancies only predict 15% fall..Should be laugh at their reports or just ignore them..History is a proof in that times as described above property atleast falls by 40-60%.. and people loose everything ..all their next decade goes in paying those high EMIs for the absurd value of property they bought...Are these consultancie sonly trying to protect the rich builder community in mumbai which has made tons of money till now and ar eleft holding unsold flats..WAKE UP GUYS..WE ARE IN FOR A MASSIVE CORRECTION IN REAL ESTATE..just follow ur own logic..before buying

Julia Dutta said...

Fantastic blog. Graet to have come across your blog.
Julia

Vikas Bamotra said...

Realty slowdown is delaying delivery of homes. Several developers have postponed execution of their housing projects as funds become scarce, demand softens and raw material prices rise. While some others are deliberately delaying projects in order to reduce supply as demand weakens.

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