Property prices in Mumbai is likely to fall by 10-15 per cent over the next six to nine months on the back of lacklusture sales.
Leading real estate sector players attribute the impending fall to rise in interest rates, escalation of cost, credit squeeze by banks, bearish capital market and weak sentiments globally leading to poor offtake of properties.
These will definitely have a negative impact on the property prices in Mumbai and other cities in the country. In my view, the price will go down by 10-15 per cent over the next six to nine months, Indiareit Fund Advisors Managing Director and Chief Executive officer Ramesh Jogani said.
More : business-standard.com
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