Homebuyer’s Guide To Mumbai

The Mumbai residential market’s strong demand momentum continued in the fourth quarter (Q4) of 2022, in line with the previous quarters. Central suburbs dominated the supply of new residential units, followed by Western suburbs. However, like the earlier quarters, demand for larger configurations dipped, as 3BHK and above configurations comprised only 15 per cent of the total online searches. Smaller units like 1BHK and 2BHK saw similar demand as in the last quarter. The requirement for 2BHK stood at 27 per cent of the total searches. The supply, on the other hand, was also in sync with the demand trends, with 1BHK units registering a 46 per cent share of the inventory, followed by 2BHK. Price-wise, properties worth less than Rs 30 lakh saw a slight decline compared to Q3, 2022, while units worth Rs 60-100 lakh stood at 40 per cent, and units worth Rs 1 crore and above comprised...