With the reputation it holds and the over-priced demands of the sellers, buying flats in Mumbai is not very simple, especially during present times. As per the experts who monitor the real estate business, the demand for land has been growing, at a stable rate over the last four years. However, the over-priced values, especially on residential apartments has made aspiring home buyers shift their focus to neighbouring areas, which are a few meters outside Mumbai city. It is to be noted that the demand for luxury residential projects is growing at the rate of 35 percent every year, whereas the demand for regular residential homes is at 66 percent. As Thane and Navi Mumbai are located in close proximity to the city, their prices too have increased at about 70 and 74 percent respectively.
In spite of lack of clear space and its escalating value, the demand for property in Mumbai continues to be stable, since many are keen to buy a second home within the city limits. The investors bear a strong belief that the value of real estate in the city will always increase irrespective of the economy or any other significant factors. Analyzing the same, the real estate experts ensure that all of the real estate investments in the financial capital will always garner interest for its stable financial growth and demand. However, affordability will continue to be a matter of major concern for majority of the public in the city.
Article Source: EzineArticles
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