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Mumbai Luxury Home Prices Likely To Fall By 1% In 2020 As Buyers Tread Cautiously: Report
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Mumbai Luxury Home Prices Likely To Fall By 1% In 2020 As Buyers Tread Cautiously: Report
Publish on : 2019-12-14 16:29:16
Mumbai: Prices Of Luxury Homes In Mumbai, The Country’S Most Expensive Property Market, Are Estimated To Fall By 1% In 2020. India’S Commercial Capital Has Emerged As The 7Th Global City In Terms Of Expected Price Appreciation, In Percentage Terms, Of Prime Residential Properties, Showed A Knight Frank Report. Localities Such As Cuffe Parade, Napean Sea Road, Colaba, Lower Parel, Worli, Tardeo, Juhu, Bandra Kurla Complex (Bkc), Santacruz(W), Bandra(W), Khar(W) And Prabhadevi Are Set To Fall By 1% In The Next One Year. The Buyers Of Prime Residential Properties In Mumbai Are Expected To Remain Cautious In 2020 Due To Deteriorating Economic Environment Impacting Market Liquidity And An Additional 1% Stamp Duty Being Levied By The Maharashtra Government, Taking The Total To 6%, Knight Frank Said According To Knight Frank Prime Global Cities Index Q3 2019, While Mumbai Was Ranked As The 28Th Fastest-Growing Prime Residential Market In The World, Registering A 0.8% On-Year Increase In Average Capital Value In Third Quarter Of 2019, The Prices Had Actually Remained Stable In The Past Three Months. In The Last Decade, Mumbai Has Seen A 12.7% Price Appreciation In Prime Residential Properties. The Index Also Highlighted That The Change In Prime Residential Prices For All 45 Cities Tracked By The Index Averaged 1.1% In The Year To Q3 2019, Growing At The Slowest Rate In A Decade.

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