Residential Properties in Mumbai: A home in the city of dreams
The largest city by population, Mumbai is guarded by the Western Ghats and brings in a vital part of development through the ports. As India’s economic hub and commercial capital, the city is one of the most expensive real estate markets globally. Some of the high-end residential areas in Mumbai are Bandra, Worli, Juhu, Malabar Hill and Versova. But with growing demand, Mumbai is fast moving towards affordability as the city has shown significant improvement on JLL Home Purchase Affordability Index.
Sales volumes recovered in the second half of 2020 after a massive dip in Q2 2020 set upon by COVID-19. The last quarter of 2020 witnessed up to 50% growth in residential unit sales than Q3 2020. This was due to a surge in commerce and trade, historically low-interest rates and slashed stamp duty charges. As sales surpassed new launches throughout 2020, residential prices saw no significant fluctuation.