Mumbai Rains: Housing transactions impacted as homebuyers’ walk-ins slow down during monsoon
As rains batter Mumbai and cases of waterlogging get reported across the city, the biggest casualties is the city’s real estate sector. According to real estate experts, during the monsoon, the real estate transactions are comparatively lesser and walk-ins greatly reduced between the months of July to August. The Mumbai real estate market gains momentum with the onset of the festive season starting with the Ganesh festival. "Housing sales tend to decrease during the monsoon season (July – Sept) compared to other quarters of the year. This has more to do with prospective homebuyers’ inability to go out for site visits during rains, which seriously affect mobility in Mumbai, than with an actual dip in demand," said Rajkumar Singh, Head - Residential Services (West), ANAROCK Group, a real estate consultancy firm.
