Since last three-quarters, we have seen around 40 new launches by the developers in Mumbai Metropolitan Region. More them 70% of stock has been already absorbed- there is great demand for- freshly launched that score high on the 3 essential P's- Product, Positioning and price- regardless of where they are situated. This is excellent, because, in a few cases, location has been a big compromise considering to the poor access to the social infrastructure.
These launches has been welcomed despite of umpteen challenges mainly because they are the right product with a right price- most of the products has quoted rates between 20-40% lower than the contemporary resale properties being traded in the same areaS. Which is inevitable, because Mumbai's secondary or resale homes market has always represented a real problem to the city's developers. However, there is a speedy change in the scenario. Resale Residential Market- Trade Volumes at Record low on probing the registration data for secondary residential sales in Mumbai Properties.
It emerges those trade volumes have become more stressed. If we consider this trend Similarly, we understand that costs of resale homes in the city have, in fact, stayed very high even though real trade volumes have failed to prove them. It is a self-evident market motto that high prices cannot bear in an atmosphere where volumes do not help them. The prices on Mumbai's secondary sales market will have to come down so as to maintain buyer interest. Moreover, given the pricing battle being conducted by the primary sales market, the condition does not call for a mere softening of prices, but a full-scale change in the resale property prices.
These launches has been welcomed despite of umpteen challenges mainly because they are the right product with a right price- most of the products has quoted rates between 20-40% lower than the contemporary resale properties being traded in the same areaS. Which is inevitable, because Mumbai's secondary or resale homes market has always represented a real problem to the city's developers. However, there is a speedy change in the scenario. Resale Residential Market- Trade Volumes at Record low on probing the registration data for secondary residential sales in Mumbai Properties.
It emerges those trade volumes have become more stressed. If we consider this trend Similarly, we understand that costs of resale homes in the city have, in fact, stayed very high even though real trade volumes have failed to prove them. It is a self-evident market motto that high prices cannot bear in an atmosphere where volumes do not help them. The prices on Mumbai's secondary sales market will have to come down so as to maintain buyer interest. Moreover, given the pricing battle being conducted by the primary sales market, the condition does not call for a mere softening of prices, but a full-scale change in the resale property prices.
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