Tuesday, December 30, 2008
Credit crunch hits Indian house prices
Wait! Property prices to fall further!
Residential property prices crashed in the mid-1990s, and it took till 2002-03 for them to start rising again. When they did, however, the progress was rapid. Within a short span of time, the prices had risen so much that the budget buyer, who comprises the bulk of the market, was left out in the cold. For homebuyers though, things are getting better. A correction in property prices is already underway. [ALSO: See first comment for bad news about the Indian jobs market too.]
Posted by drewster @ 01:30 PM (849 views)
3 thoughts on “Credit crunch hits Indian house prices”
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drewster says:
little professor says:
The good news is that the Indian property bubble only really started in the last couple of years, so not that many people have been caught up in it.
Larnaca Properties says:
What is happening in India is a phenomenon that’s common across the globe. Be it India, UK or Cyprus property there is a massive decline in sales and rental properties.