Mumbai real estate has always been a confusing proposition for market experts and observers alike. While there is no dearth of property in Mumbai for sale, buyers are still quite hard to find! However, this situation is still not having an impact on a possible fall or correction in prices in Maximum City where owning a home is an impossible dream for most of the working population. This trend is puzzling market experts and prospective customers alike. Very few apartments are being sold every month and almost 1.5 lakh housing units are still unsold in only the Mumbai Metropolitan Region let alone other parts of the city and its outskirts. The high property prices would definitely prompt efforts for selling property on part of multiple investors and individual owners alike.
Though the volumes of unsold property in Mumbai for sale are quite high, people are still not selling. Many investors and property owners are holding onto their properties owing to their belief in the progress of the market in terms of prices. Property owners still believe in the potential rise of prices and this can be a tangible reason for holding onto properties. Rather, investors are putting out their properties on sale in Mumbai which are earning good returns and are expected to garner the same in the future as well. However, one section of market experts believes that this is not unnatural in Mumbai, a market where supply volumes are quite limited. Prices will take a lot of time to stabilize or possibly correct in this market and developers will attempt to hold onto existing price levels for some more time.
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