Mumbai set for 2012 recovery says jll

Mumbai’s property market will bottom out and see a recovery in the second half of the year according to consultancy firm Jones Lang Lasalle.

Ramesh Nair, managing director (west) of Jones Lang La Salle India said that lower interest rates will help to boost demand.

“The reduction of interest rates expected by the second half of the year will help kick-start a generalised – though cautious – recovery in demand for residential property, leading to an increase in launches,” he said.

Source: OPP.org.uk