Property for Rent in Mumbai

Bona fide effect of booming real estate can easily be seen in Mumbai where prices of property are going up thereby making more difficult to purchase property, adding more agony for already suffering consumers. Industry watchers averred that the evaluation is disgustingly excessive and the property greatly overvalued

Interested ones are just waiting for the market to cool down a little. Buying property, at present with prices rising at such a high speed, is not such a good idea, but its better to look for a property on Rent. So, while some wait for their chance to come, others see no other alternative than to pray for the prices to fall down.

Rise in Prices of Properties in Mumbai

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Experts of property industry believe that Mumbai property market, especially residential, may see a softening trend in near future.

Prices may drop by between 5 to 15 percent in coming days. This is after a large rise in prices in the last few years and the recent increases in home loan interest rates that may have an impact on demand. Over the course of last twelve months the interest rate over home loans haven gone up from 7.75% for fixed rates last year to 12% now.

While this trend is expected 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.1