From renting to buying homes: What’s driving the shift in Mumbai? Financial Express
In recent years, Mumbai’s real estate market has witnessed a notable shift from renting to buying homes. This transformation reflects changing demographics, evolving economic dynamics, and shifting consumer preferences, all of which are reshaping the city’s housing landscape. Post 2020, the way people perceived homeownership has evolved massively, thus redefining the approach of the masses towards owning a house rather than renting one.
Sense of security Owning a home brings along with a sense of security, especially during unprecedented scenarios like the pandemic. As a result, many people who used to rent a home have made the move to invest in one. As per a report from NoBroker, 65 percent of people were contemplating buying a house in 2023 over renting
