Mumbai Luxury Residential Prices Dip 5%
Luxury residential market of Mumbai is likely to see a price decline of 5% in the year 2020 owing to the impact of Covid-19 on luxury residential property markets around the world. For the year 2021, Mumbai’s prime residential prices are expected to witness an additional decline of 3%, showed data from Knight Frank India. Mumbai’s luxury housing market ranked 33rd with 0.1% rise during the 12-month period ending March. The city registered 0.1% price decline sequentially in the first quarter of 2020. Delhi prime residential market ranked 32nd with 0.4% annual price change for the 12-month period. Bengaluru’s market performed better than Mumbai and Delhi. Bengaluru’s market performed better than Mumbai and Delhi. Globally, the city ranked 27th with 1.4% annual price change for the period; also witnessing 0.1% sequential price change.
Tags : News/Views Mumbai Real Estate Delhi Knight Frank India developer Luxury Residential Prices dip