Mumbai Outperforms Other Metros in Terms of Residential Demand - With the Biggest Growth in the First Quarter of 2022.
In the first quarter of 2022, residential demand & supply in Mumbai remained high. Despite the third wave's uncertainty, home sales in Q1 2022 are 83 percent closer to pre-pandemic levels than they were in Q1 2019.
Due to the pandemic, Mumbai, India's financial hub is one of the worst-affected cities. Approximately 3 million COVID-19 instances have been registered in the city during the last two years. The resulting economic lockout and halt had an impact on all industries, including real estate. The city's biggest dips occurred in 2020, when residential demand fell by half compared with the previous year. However, over the previous year, Mumbai and its outskirts saw a surge in residential real estate development, which persisted in Q1 2022.
Are you looking for flats for rent in vikhroli? Despite the arrival of the third wave at the start of the year, demand in Mumbai surged by 26% in Q1 2021, according the Real Insight Residential – January-March 2022, a quarterly assessment of India's eight largest housing markets by the REA India group firm. In Q1 2022, the city had a highest demand share of 33% among the top eight cities. Consumer attitudes have