March 3, 2025 - 10:05
India Business News: Mumbai's property market is showing mixed signals, with overall registrations remaining strong while the affordable housing segment continues to shrink. Recent reports indicate that despite a robust demand for residential properties, the availability of affordable housing options is dwindling. This decline poses significant challenges for first-time homebuyers and low-income families seeking to enter the real estate market.
The city has witnessed a surge in luxury and mid-range housing developments, driven by an influx of high-net-worth individuals and a growing middle class. However, this shift has resulted in a scarcity of budget-friendly homes, pushing many potential buyers to the sidelines. Analysts suggest that rising construction costs, coupled with stringent regulations, are contributing factors to the contraction of affordable housing.
As Mumbai grapples with these contrasting dynamics, stakeholders are urged to explore innovative solutions to revitalize the affordable housing sector, ensuring that the city remains accessible to all its residents.
