Thursday 28 November 2013

Mumbai housing market in ‘dire circumstances’, says Knight Frank | The National

Mumbai housing market in ‘dire circumstances’, says Knight Frank | The National:

"Mumbai’s residential property market is in “dire circumstances”, with sales hampered by India’s economic slowdown, says Knight Frank.

The unsold stock of homes in Mumbai has reached 130,000 units and developers have been delaying new launches to focus on selling the existing inventory, a new report by the property consultancy states.

To that end, developers have been reducing prices by up to 25 per cent, particularly in the premium segment, it says."

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