I have been in the real-estate industry for the last few years and over the years the prices have been increasing annually. But there has been a steep increase in the real estate appreciation rate in Mumbai since last year.
The rate has been especially high in areas such as Thane, Kharghar. Andheri East, Borivali West, Malad West.
What Is The Property Rates in Mumbai Forecast?
According to my findings, the
average property appreciation rate in Mumbai is around 5.50%. You can check the table below to learn about the average price of 2BHKs across Mumbai.
| Year | Price |
2019 |
Rs. 1,08,91,102 |
2020 |
Rs. 1,08,00,520 |
2021 |
Rs. 1,12,31,915 |
2022 |
Rs. 1,18,82,423 |
2023 |
Rs. 1,25,35,956 |
Reason For Property Appreciation Rate In Mumbai
According to my research, there are three main reasons why Mumbai is seeing a high appreciation rate.
- Growing Income And ROI
In recent years, Mumbai’s ROI growth rate has been the highest due to the Investments made by NRIs. Investments in real estate, businesses, and rental properties have also witnessed significant appreciation increases.
- More Options For Choosing Properties
Due to expanding infrastructure, Mumbai has deepened its suburban reach because of this, new prime locations have moved to more reasonable price points. Suburbs can also provide reasonably priced amenities, similar to well-developed communities.
- Outstanding Connectivity And Accessibility
Mumbai is connected to various city areas through various transportation choices, such as local trains, metro, buses, etc. This makes traveling from one point to another very simple and easy.
I hope this information about the real estate appreciation rate in Mumbai will help you.
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Authors Of The Question
What is the Real Estate Appreciation Rate in Mumbai?
Tripti
846Views
7 months
2024-04-01T10:58:30+00:00 2024-04-01T10:58:30+00:00Comment
1 Answers
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