Mumbai Retains Tag of 'Unaffordable Property Market'

“Despite the waning interest of home buyers, quoted prices in Mumbai continue to remain high as developers are increasingly offloading their unsold inventory at a discount to investors who are willing to make substantial upfront payment,” said Samantak Das, Knight Frank analyst.

The report also added that "The deliberate strategy on the part of the developers in these cities to focus on the peripheral areas with the right size of apartment area has ensured that the new supply does not breach the affordability level of the target segment. In contrast to this, Hyderabad has only 51 percent of its total under construction units below the 5 million ticket size despite the city having the lowest weighted average price among the top six cities.”

“Going forward, we expect the momentum in new launches to reduce significantly across these cities. This will help ease the inventory overhang in these cities, thereby improving market health in coming quarters,” Knight Frank said.

 Read More: Urban Youth Prefer To Invest In Real Estate: Survey