The Finance capital of India, the Mumbai or erstwhile Bombay is developing like anything in property building. One can see this from the Arabian Ocean front of Mumbai coast and by Mumbai flight landing. The present Mumbai is not what you see a decade back. You might be surprised to see many previously slum dwelling areas are with high-rise buildings. Even in the outskirts, you can find many skylines. The property in Mumbai is in expansion stage and there are many real estate agents to develop more and more assets in the near future. Still the middle class people find it difficult to own a dream home in Mumbai for various reasons.
Does Property Market Price Really Exists
You can mostly find in Medias and newspapers showing the current property price per square feet (psf) for so and so price in various localities. When comes to real life, they are just figures to make news and nothing is going to get in those price as current day market or previous day closing as in the case of share market price.
Third Party Prediction of Real Estate Prices in Mumbai
Banks: There are many private banks lending home loans or housing loans to salaried class people all over Mumbai. They do have a market research team to advice on Mumbai property market. Most often, they do come out with their future prediction of property prices in Mumbai in their website and in print medium mostly in financially classifieds. However, this will help to boost their sales only and never benefits a home loan seeker from those banks who are in to real estate market price analysis.
Market Research Firms: There are many market research firms, who suddenly come out with their findings of real estate market in Mumbai. One can see their reference many times in real estate classified article like, as per XYZ firm market research the real estate trend is so and so figures last year. This has reached so and so figure in the present days. However, this type of news will make an investor and end user to buy now since they have predicted a future trend of increase in higher percentage. It will be no wonder to find who has asked them to do a market research study to publish in print mediums.
Media Entertaining Realty Business: One can find many real estate channels locally and with other main private channels showing various properties in Mumbai for sale. They do come with eminent personalities and show this is the property market trend, it is advisable to buy now rather wait in the future to buy them at 10 times costliest than now. You can also find many property advisors talking about market price of various properties in Mumbai.
When Dose the Property Market Price Come Down
Not only middle class people, but also all must know that a property price will come down due to political cause, economical cause and due to natural calamities. Rest of the time property market value will be just increasing rapidly or with slow and gradual manner. Waiting for a property market price to come down is waste of time. Alternatively, you have to search for those properties, which are not constructing as per housing rules and they may be demolished any time by the respective authorities. You can expect a low price where slum dwelling is more. You can expect a low priced properties where access to main road has no right path way or land is not yet allocated for inner roads.