Why do some Bollywood stars prefer renting over buying homes in Mumbai?

Mumbai real estate update: Bollywood celebrities are among the biggest buyers of luxury apartments in the city. However, some stars still prefer renting

Mumbai’s real estate market, known for its soaring prices and luxury residences, ranks among the most expensive in India. A key factor fueling this luxury boom is the steady demand from Bollywood celebrities, many of whom invest heavily in premium properties across the city.

Mumbai real estate update: While many Bollywood celebrities are known for purchasing luxury apartments or investing in commercial spaces, a significant number also prefer renting high-end properties instead of owning them. (Photo for representational purposes only) (pexels)

Stars like Amitabh Bachchan, Abhishek Bachchan, Akshay Kumar, Manoj Bajpayee, Ajay Devgn, Kajol, Shah Rukh Khan, Deepika Padukone, and Suniel Shetty have frequently made headlines for high-value property transactions.

While many Bollywood celebrities are known for purchasing luxury apartments or investing in commercial spaces, a significant number also prefer renting high-end properties instead of owning them.

Why do Bollywood stars opt to rent apartments?

According to real estate consultants, some Bollywood actors, despite having the means to buy, choose to rent properties due to personal preferences, such as securing a sea-facing view in a specific location.

Experts also point out that in some cases, the desired property may not be available for sale. In other instances, actors may rent high-end apartments to enjoy a certain lifestyle, even if purchasing the same property is financially out of reach at the time.

"The simple reason, or maybe one of the reasons, is that every celebrity wants to live a life of king size, and they want to live beyond what they can afford at that time in their life. They might at times not be in a position to afford something that they want, and hence they opt for renting," Ajai Kapoor, founder of 360 Degrees, said in a podcast on the Bandra real estate market hosted by Zapkey.com

"The celebrity life is such that once you have entered and seen some success. There are a lot of them who move very fast, and for them to buy something and get stuck there, rather they feel like let me wait for a couple of years, and later I will buy what I need to really use," Kapoor said during the podcast.

"For example, a Bollywood celeb might not be able to afford a ₹50 crore home, but he can easily rent that same apartment for ₹1 crore annual rent; it is as simple as that," said Sandeep Reddy, co-founder of Zapkey.com, during the podcast.

Another real estate consultant, not wishing to be named, said, "There are many celebrities who have a run of, say, five years, and later are not that active. At the same time, they already own a house in their hometown, so many times, it just does not make sense for them to purchase a house."

Bollywood stars currently living in rented homes

Several Bollywood celebrities are currently residing in rented properties. Shah Rukh Khan and his family, for instance, have temporarily moved into a rented home while their iconic bungalow, Mannat, undergoes renovation. Other stars like Vicky Kaushal, Huma Qureshi, Shraddha Kapoor, and Urvashi Rautela are also living in rented apartments in Mumbai.