Mumbai’s June 2024 property market reflected a mixed performance. Year-on-year registrations grew by 12%, indicating continued growth. However, a 3.6% dip compared to May 2024 suggests a potential slowdown, prompting analysts to monitor market trends closely.
Mumbai’s residential property market exhibited a conflicting performance in June 2024. On a year-on-year (YoY) basis, there was a welcome sign with registrations climbing 12% compared to June 2023. This suggests a continuation of the positive trend that the market has been experiencing.
However, a closer look reveals a cause for concern. June 2024 registrations also saw a 3.6% dip as compared to May 2024. This month-on-month (MoM) decline hints at a potential slowdown following a period of growth.
Real estate analysts are cautiously watching the situation, considering various factors that might be influencing this dual trend. Seasonal variations in property buying could be at play, as some quarters witness a higher influx of buyers compared to others.
Additionally, potential corrections in the market after a period of growth cannot be ruled out. Only time will tell if this MoM dip is a temporary blip or the start of a more prolonged slowdown. It will be interesting to monitor registration trends in the coming months to get a clearer picture of Mumbai’s residential property market.
