Mumbai property prices to soften in the short-run
Real estate industry experts believe that the Mumbai property market, especially residential, may see a softening trend in the short term.
Prices may drop by between 5 to 15 per cent in the short run. This follows a large escalation in prices in the last few years and the recent increases in home loan interest rates that may have an impact on demand. Home loan rates that were around 7.75% for fixed rates last year are now closer to 12%.
While this trend is likely to impact the mass market, it may not have an impact on the premium residential market in Mumbai due to scarcity of top-end properties.
By INRnews Correspondent
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