31.12.2010 - India: Luxury homes set to get cheaper in new year
From Hindustantimes.com: This has been the year of the luxury home. Speculators returned to the real estate sector to cash in on the upper-class Indianís luxury urges. Result: a sharp spurt in residential property prices, while commercial and retail realty prices remained muted. But if you are planning to buy a house, the new year could still bring cheer. Residential properties shot up around 50% in some pockets. Some rationalisation is likely in 2011 ó 15% is a figure being mentioned by industry sources ó especially in view of RBIís tightening of monetary policy recently, restricting money supply in the system and putting off speculators..............................................Full Article: Source
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