Real estate sticker shock

I’ve been posting less lately, partly because I’ve been involved with this incredibly interesting project at work that I’ll share more about later this week. In the meantime, I read a fact today that made my jaw drop. I thought the US real estate market was bananas. Well, according to an article by a real estate analyst in a magazine called “Realty World,” property prices in MOST Indian cities increased by almost 70% between 2007 and late 2008. How much will these prices go down now that the bubble has burst?

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2 comments
  1. Ram said:

    I do hope Indian realty prices go down. Over the last few years, every time I went back to France (which is where I go, just as you go to the States), I’ve been noticing that it was getting considerably cheaper to acquire a one-bedroom apartment in Paris than it was to buy the ame in any big Indian metropolis.

  2. Arvind said:

    I recently saw an ad for a flat in Besant Nagar. Rs.10000 per sq.ft!! A 1000 sq. ft. house would cost Rs. 1 crore!!!

    Incidentally, the recession seems to have the opposite effect on graduate tuition fees in the US!

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