| Overall, the past 10 years have witnessed an upward movement in prices except for the years 2007 to 2008. During this time, there was the global recession that led to a financial crunch and this in turn caused stagnation in the local property market, both in terms of prices and volumes of deal closures.
However, we cannot also say that it was a time to pick up cheap properties as this too was not the case. People were not willing to part with their property at low rates. Perhaps they knew that the market would pick up again. What transpired for certain was that what happens in the global economy has a direct bearing on the local real estate market...............................................Full Article: Source
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