Mumbai's Small Apartment Market: A Lucrative Option for Homebuyers
According to real estate consultants, out of the total monthly sales in Mumbai's real estate market, close to almost half of the sales is for apartments in the range of 500 sq ft to 1,000 sq ft.
Mumbai Real Estate MarketSmall ApartmentsHomebuyersInvestorsAffordable HousingReal Estate DevelopersReal EstateSep 29, 2024
According to industry data, almost 33% of the monthly apartment sales in Mumbai are for apartments below 500 sq ft. In fact, out of the total monthly sales in Mumbai's real estate market, close to almost half of the sales is for apartments in the range of 500 sq ft to 1,000 sq ft, followed by the second highest of under 500 sq ft. So why do real estate developers sell apartments measuring 500 sq ft and less? Often when developers purchase industrial land, one of the conditions that they have to abide with is to construct affordable units. This is one of the reasons why several developers construct a mix of small and large apartments.
Frequently Asked Questions
What percentage of monthly apartment sales in Mumbai are for apartments below 500 sq ft?
Almost 33% of the monthly apartment sales in Mumbai are for apartments below 500 sq ft.
Why do real estate developers sell apartments measuring 500 sq ft and less?
Often when developers purchase industrial land, one of the conditions that they have to abide with is to construct affordable units.
What is the average size of 1 BHK apartments in Mumbai?
1 BHK apartments are usually of sizes ranging from 380 sq ft to 425 sq ft.
What is the trend in Mumbai's real estate market in terms of apartment sales?
Close to almost half of the sales is for apartments in the range of 500 sq ft to 1,000 sq ft, followed by the second highest of under 500 sq ft.
How many property registrations were recorded in Mumbai in August 2024?
There were 11,735 property registrations recorded in Mumbai in August 2024, an 8% year-on-year increase from 10,902 a year earlier.
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