Fewer NRIs are investing in real estate in Mumbai. While NRIs contributed to 20-25% sales in Mumbai five years ago, the number has now come down to 7%. Read: Real estate sector slowdown : New development projects in Mumbai dip by 36 per centReal estate expert Ajay Chaturvedi said Indian market is facing competition from places like Dubai. “NRIs know real estate prices won’t rise anymore. They see no sense in buying expensive property and renting it out,” said Pankaj Kapoor, CEO, Liases Foras, a real estate research firm.

Source: Hindustan Times August 07, 2017 11:48 UTC