Mumbai prime residential property prices rise
This information was released in a Jones Lang LaSalle report - Asia Pacific Property Digest Second Quarter 2006.
According to the report, capital values for the Mumbai prime residential market are appreciating at a faster rate compared to the rental values across the various locations of the city. The market is primarily end-user driven. Given the expanding office sector in the city after the completion of various upcoming commercial projects, the residential sector will get a further fillip due to the increase in demand. Investment yield is close to 8% in Mumbai prime residential areas.
The rental values on Juhu, Bandra and Santacruz witnessed a substantial appreciation of 25.0% due to the increasing demand from expatriates.
Jones Lang LaSalle is a global real estate money management and services firm with operations in 50 countries and more than 100 offices worldwide. The company provides comprehensive integrated real estate and investment management expertise on a local, regional and global level to owner, occupier and investor clients.
By INRnews Correspondent
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