News

AFFORDABLE HOMES STILL A FAR OFF DREAM

The dream of the common man to have a house of his own might remain a dream for sometime now. Property prices have rocketed sky high making purchasing of homes unaffordable. To add to their misery, there is increased interest rates and a huge mis-match of supply and demand in the reality market. According to a study, affordability of residential property in Mumbai has declined by 50% in the last three years. It is found that there has been a nearly four-fold jump in residential prices in certain areas in the last four years, while growth in income of an average household has been just 15-25% annually.

Tags

Related Articles

Back to top button
Close
Close