The Ups and Downs of Expat Mumbai Properties

When we have made the decision to move to a city like Mumbai, there are several factors that we have to take into account before investing our money in an expat property for sale or a property for rent. We wanted to study the current real estate market and bring you a detailed list of the ups and downs of expat Mumbai properties, and help you make the best decision about the ideal time to take the big step.

 

expat properties in mumbai

The UPs: 

Good locations and expats communities: The are many expat properties for sale in Mumbai perfect for a good social life, with a huge cultural agenda, meeting new people, concerts, gigs, art exhibitions and so on. These locations are full of nightlife, culture, cafes, bars and clubs.

Living in a Cosmopolitan city: Mumbai has emerged as the hub of B2B startups. This has increased the demand on the real estate market by entrepreneurs, businessmen, investors and professionals seeking the opportunity to invest and work in this city. That translates to more people looking for properties to buy in Mumbai and stay to live for a long period of time.

World-class schools for expat children: Many foreigners do not hesitate to buy an expat property in Mumbai due to the good education system that their children can have. Children can go to colleges and universities with the same educational level that they would have in their home countries. This helps some locations in the real estate market increase their cost and offer better services aimed at expats.
Good prices to rent properties in Mumbai: Many people consider that it is better to rent than to buy properties in Mumbai. If you are not going to spend a lot of time in the city, your job keeps you traveling all the time or you will only spend a few months in the country, then renting an expat property is ideal for you. Mumbai is known for having a great health system that is very affordable. That is why many people come to the city for medical procedures such as dental work and plastic surgeries among others. This helps the rental system be in constant movement and it is a much cheaper option than buy a property.

The Downs:

Properties in Mumbai are expensive: One of the biggest challenges that people have when they move to the city is to get a good expat property in Mumbai at an affordable price. It is not impossible, but it is a bit difficult due to the high prices of properties in the best locations in the city. The price of an expat property may vary depending on the location, urban services, schools, age of the property, etc… That is why our agency works with an extensive database to locate the perfect expat properties in Mumbai that meets the requirements of our customers within their budget.

Endless hours in traffic: The pollution, the honking and the sheer number of people on the streets, are the disadvantages of living in a big city. That’s why we recommend buying properties in Mumbai near your workplace. About 5 or 10 km away, that way you can save hours of traffic per day during peak hours.
Geography is a problem for properties in Mumbai: The astronomical prices in some locations in Mumbai are mainly due to geography. Let’s understand a little about how this city is structured. Mumbai has 3 quarters surrounded by water, that is why the city has a linear growth instead of a circular one like most Indian cities. This means that there is a lot of distance between prime city centers and the suburbs. Additionally, there are not many infrastructures connecting the city center with the most remote areas, therefore there is a significant increase in the prices of properties in the main urban centers and their peripheries such as South Central (Chembur-Byculla) and Prime North (Juhu-Bandra).

It is imperative that you always look for information on the real estate market in Mumbai before making a decision on the purchase of your property. We are willing to offer you advice on the best areas that have expats properties for sale in Mumbai, urban services nearby, good schools and everything you need, within your budget.

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