Festive season fails to resuscitate sluggish Mumbai property sales
Gulam Zia, executive director (research & advisory) from Knight Frank India, said, “Transactions have shrunk not only due rise in prices but also due to short supply. A large chunk of properties is under construction, leading to a gap in demand and supply. Although there have been registrations as far as new launches are concerned, those buyers have not officially bought the houses. They are only showing willingness by registering their names with real estate companies. These figures will not be counted in registrations unless the buyers pay.”
Analysts, however, hope that with an increase in supply, property prices are expected to become stable.
Also, while there is no room for price correction, builders will begin to attract home buyers with goodies and marketing gimmicks.
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