Archive · 25 Jun 2025
Mumbai Housing Unaffordable for Even Top Earners, Report Says
Buying a house in Mumbai is super hard, even for the richest people!
It might take them over 100 years of saving.
This is because houses cost a lot, and the top earners have to save for a long time to afford them.
Chandigarh is the easiest city to buy a house in, while Mumbai is the most difficult.
High prices are caused by fewer houses being available and a lot of people wanting to buy them.
Buying a house in Mumbai may take the top 5% earners 109 years of savings.
This estimate is based on the comparison of house prices and income of top earners.
A 1,184 sq ft house in Mumbai costs over Rs 3.5 crore.
Chandigarh is the most affordable capital city, requiring 15 years of savings.
High house prices are attributed to factors like land shortage and population growth.
- Who
- Top 5% earners in urban areas and homebuyers.
- What
- Buying a house in Mumbai is challenging, even for the top earners.
- When
- As of a recent report.
- Where
- Mumbai, Chandigarh, and other state capitals.
- Why
- Due to high house prices compared to income and savings.
Homebuyers
Real Estate Developers
Financial Implications
Homebuyers
Struggle with high housing costs.
Real Estate Developers
Benefit from potential real estate investments.
- Mumbai Savings Years (Top 5%)
- 109 years
- House Size (Mumbai)
- 1,184 sq ft
- Mumbai House Price (approx.)
- Rs 3.5 crore
- Chandigarh Savings Years
- 15 years
- Maharashtra Top 5% MPCE
- Rs 22,352
Sources
Home purchases turn more affordable after RBI rate cuts: Report
Which are the most affordable cities to buy a home in India in 2025? Here’s how much you pay in EMIs
Mumbai’s elites need 109 years to buy home; in Gurgaon they require 64 years: Report
Homeownership Dreams Thrive in Digital Hyderabad
Mumbai Housing Market Affordability Index Improves With Reduction In Home Loan Rate: Knight Frank
Buying a house? This city is the India's most affordable city for homebuyers this year; Pune, Kolkata next in line
Mumbai most affordable in 15 years, still residents spend 48% monthly income on EMIs: Knight Frank
Home purchases are more affordable now
