India’s most expensive city in terms of capital value is expected to witness a fall in property price this year, as well as in 2021.
According to a research report—Prime Global Residential Forecast— released today by Knight Frank, a real estate consultant, “Prime residential market of Mumbai is expected to see a price fall of 5% in the year 2020.
For the year 2021, Mumbai’s prime residential market is expected to witness a price decline of 3%." Knight Frank analysed 20 cities globally to ascertain price movement in these cities in 2020 and 2021 based on projections for demand and supply, the impact of covid-19 in the different markets, and the varying government stimulus measures announced.