photo credit: katrinakatrina
Property investment in India remains a safe and sensible bet for the future compared to volatile stocks and shares, commentators have claimed.
Returns remain reasonable in cities like Bangalore, said Indian property review, meaning real estate is still viable even during the current downturn.
Trade groups have been calling on the government to lower interest rates in India so buyers keen to snap up new homes can get mortgages.
Demand is still thought to be high in many areas, but many ordinary Indian families have been priced out by high-end apartment developments which in some cases remain largely unsold.
Indian Property Review said the ups and downs of property prices is a “long-term trend” and said real estate could bring big gains for those prepared to be patient.
2008 has been an unpredictable year in the Indian market, with values falling in many new developments and buyers unable to get credit.
November also saw a brutal terror attack by gunmen on Mumbai which saw more than 150 people killed and doubts grow about the future of the economy and tourism industry.
The Hindu also recently reported a commerce survey had shown a likelihood of price reductions and a swing in the market towards the end user.
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