Jan
10
Even Trump Building Isn’t Immune to India’s Real Estate Meltdown
By-
Land prices may decline 25 percent, homes 20 percent: analysts
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Cash component of home purchase often as much as 50 percent
After trying for four months to sell his apartment in a western suburb of Mumbai, Meher Verma decided to cut the price by 10 percent. With property demand plummeting in the wake of November’s sudden ban on high-denomination notes, he’s not sure the reduction will do the trick.
“I was hoping to sell my house soon,” said Verma, who put his two-bedroom property in Andheri on the market for $400,000 in September. “Now it looks like I might have to cut my price or wait much longer for the market to improve.”…
Even Trump Building Isn’t Immune to India’s Real Estate Meltdown
