Recent Survey-Resale Home Prices must drop to Sustain Buyers' Interest and Inspirations

It is estimated that during three quarters, 36 housing projects successfully launched nearly 15-35% very affordable prices than those for resale properties, the second accommodation section in Mumbai city has come under enormous pressure pushing it into near sluggishness, a recent survey said. According to a recent survey by a real estate agent, “Mostly Property developers face tough competitions because of lavish properties are available in the resale property market. The lavish properties are selling by the developers in lower prices, so every pricing concern is measured accurately.

                                                    

There has been a healthy demand for new housing projects as higher prices are lower than resale properties. The registration data for secondary sales in the city shows that the costs of resale houses have observed very high, although transaction volumes have failed to authenticate them. The recent data displays transaction volumes have become progressively strained.

It is very self-evident market platitude that higher prices cannot endure in an environment where volumes do not give the support for them. The prices in Mumbai’s secondary sales market will have to fall down so as to sustain buyer interest and confidence, according to recent report.