Best Flats Available On Sale in Mumbai in Best Price and Locality

It has been observed that the resale market in Mumbai is under stress. The price in resale real estate market continues to be high even though the volume of sales does not support it. Data reveals that more numbers of buyers are inclined to buy newer properties over resale flats in Mumbai. The lucrative discounts offered by builders on new launches are drawing away buyers from the hyper inflated resale real estate market in the city. The resale property market has to undergo price correction in order to retain buyers' interest.

The central and western suburbs of Mumbai are highly developing currently as builders are launching new projects in the primary market which are being lapped up by the buyers. In comparison, sales in resale real estate market have been minimal for these areas. This indicates that buyers are reluctant to pay a premium for 2 BHK flats in Mumbai in these areas when they can buy new property at a discount. The sole exception to this phenomenon has been the market in Thane where new and resale properties are selling well enough. The price difference between them is not much for arbitrageurs to benefit from as the properties are new ones.

The areas where resale properties are doing well in Mumbai are those which offer many amenities and good locations. Sellers have justified the premium price of sale flats in Mumbai by saying that these apartments are low maintenance ones compared to new projects. Market experts have argued that the pricing logic is faulty at best.