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Thursday, May 8, 2014

Property prices crash 30% as buyers hold on cash till election verdict


Stocks have been rising on the expectation that Mod will be well-placed to form a stable govt, but that assurance doesn't seem to have enthused people to buy homes.


BANGALORE|MUMBAI|NEW DELHI: Not all asset classes have been on a bull run in anticipation of the election result on May 16, when votes will be counted. Stocks may have been surging over the past few months but the secondary residential market has been going the other way, according to anecdotal evidence and the data that's available.

Prices of tens of thousands of homes built by local builders and investors in the metros have crashed by as much as 20-30 per cent in the past one year, with their owners desperate to exit a market in which buyers seem to have completely disappeared. 


with thanks : Economic Times : LINK : for detailed news




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