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In Indian cities (especially metros), housing prices have risen beyond the reach of the average wage earner. Despite several projects still languishing unsold,
by arocks 14y ago
In Indian cities (especially metros), housing prices have risen beyond the reach of the average wage earner. Despite several projects still languishing unsold, the prices have been artificially kept high by greedy builders. This puts tremendous pressure on single income families even if they earn well above median salary.
- ashray 14y agoI think Indian cities are suffering from a serious real estate bubble. The value that you get out of a property is really questionable. I'm just talking about services (electricity/water/sewage), road networks, air quality, water quality, public transport, surrounding neighborhoods, etc. Not to mention build quality, finish quality, and other factors. A nice property in New Delhi can cost close to $1M USD. That's say a 3 bedroom apartment in an upscale area. Land, of-course costs a phenomenal amount more. Mumbai prices are even higher. At that kind of rate, I'd rather put my money elsewhere (you can buy great property pretty much anywhere on the planet for those prices..), especially somewhere that can offer a better quality of life. .. waiting for it to pop .. if it ever will sigh