How is the Market for Commercial Properties in Mumbai?
Considering the latest market trends, Commercial properties in Mumbai will put a smile on the faces of builders in Mumbai by the 4Q of 2015.
Keeping a tab on the commercial properties in Mumbai is easier said than done. With the diverse statistics that reflected in 2013 and last year, the commercial real estate scenario is all set to pleasantly surprise the builders. That is to say that the market will gain momentum in the second and third quarter of 2015 as opposed to the ending of the year as witnessed by 2014 and 2013.
Mumbai being the economic capital of India, the real estate cannot really be a subdued sector for long. The last two years did see a slack in the commercial property market but this year will be different. However, the new projects and spaces will dominate over the rental market. So, if you are considering between these two options, you will strike a rather good deal by opting the latter.
Reason to Smile for Builders and Owners
A research report by Colliers International states that 2015 will surely make the builders in Mumbai smile as the market shows all likelihood to make available 11 million sq ft of space for office purposes. This brings good news to the owners of commercial property too as this will stabilise the rental prices. So, it is a win win situation for both, the property owners as well builders who wish to venture in Mumbai.
Reason behind the Rise in Commercial Market
All said and done, irrespective of the lucrative monetary benefits shown by the fluctuating or stationary property rates and aggressive marketing campaigns, one should peer into the details behind why a market is expected to perform well. The reason behind this rise in the commercial market is the businesses that are cropping up.
Entrepreneurship is making the real estate swell in almost all the major cities in India but Mumbai is recorded as the most preferred place to set up start-up businesses, be it local oriented or overseas projects.
Investing in real estate is a little risky affair if you do not do your homework properly. Although this sector is known for being on a perpetual fire, an informative decision won’t do any harm. After all, what better an investment that can fetch you maximum returns if researched well! Now that you are equipped with the market insights of commercial properties in Mumbai you know when and where to put your money.
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ABOUT THE AUTHOR
Alex Fernandes is a real estate advisor to many leading builders in Mumbai and his experience helps get the best deals in commercial properties in Mumbai.