Historical Mumbai Property Prices 1993 to 2009

Residential demand is a function of affordability, direction of selling prices and consumer confidence. As prices and interest rates dropped, we saw affordability improving. If prices remain at current levels, affordability will rise only with an increase in household income as further interest rate reduction is unlikely. But on the contrary, if interest rates start moving up then affordability will start emerging as a big concern again.

The following Chart Shows Historical Property Prices in Mumbai between 1993-2009 at Bhandup Mulund Ghatkopar Goregaon Chembur Powai Andheri (W) Bandra (W) Worli and South Bombay.