(Source: Wall Street Journal)
Low interest rates, a rapidly recovering economy, and India’s never-ending demand for housing: it all adds up to a convincing case to invest in the Indian real-estate sector.
But here’s an eye opener: prices haven’t substantially recovered after a correction which ended six months ago. In fact, except in pockets of demand like Mumbai and to a lesser extent New Delhi, demand for residential properties remains weak.
Even in the big cities, the pace has slowed after a brief six-month sprint, amid a flush supply of homes and prices that remain out of reach of many buyers.
Read Harish Joshi’s full article “The Myth Of Indian Realty” in the Wall Street Journal (January 11, 2010).