Looking for a property in Mumbai and worried that you are will be wiped clean of your resources?? Well, good news is your way! The Bank of America Merill Lynch has predicted that there are increasing chances for the real estate prices to drop down in Mumbai in 2012. Over the first six months, the prices might fall upto 15-25% in 2012.
Mumbai, being one of the biggest emerging economies in the world has been witnessing a surge in property prices owing to the Global Financial Crisis. Hike in prices have raised affordability concerns among the buyers. Mumbai is now looked at as one of the costliest cities to live in. To sort the issue, Indian Government stepped in and took measures to bring down the inflating real estate prices in Mumbai.
The steps taken resulted in fund shortages for the Mumbai developers. A lot of new projects have been instigated over the last year and there are over supply concerns among the experts in this year and the next. Saying all, experts soothe the buyers saying that the near future will witness a drop in real estate prices in Mumbai.
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