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Mumbai's housing boom amid rising property prices: Report
The Business Guardian
|March 25, 2024
New research by AnaROCK property consultants has shown that the residential real estate market in the Mumbai Metropolitan Region (MMR) has witnessed a surge in home buying activity in recent times.
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This trend is seen despite the relentless rise in property prices in the region.
The MMR housing market holds the top position in both supply and demand, with new launches of about 1.57 lakh units in 2023 and sales of about 1.53 lakh units, both at all-time high levels.
Both housing supply and sales in MMR have been on an upward trajectory since 2020. New launches and housing sales in 2023 surged 27 percent and 40 percent annually, respectively, when compared to 2022.
MMR witnessed a 15 percent growth in average property prices, from approximately Rs 11,890 per sq. ft. in 2022 to approximately Rs 13,700 per sq. ft. in 2023.
Esta historia es de la edición March 25, 2024 de The Business Guardian.
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