Property: India prepares for housing meltdown
Some of the world's most expensive property is in Bombay. But the bubble is bursting.
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Indian newspaper Business Standard is today reporting that Indian property prices are already on their way to a 10% slide - but that hard negotiating can produce discounts of up to 25% against list prices.
Of course, that presumes that the list prices have not been inflated to produce a false discount.
The newspaper says "Normally, the October-December period accounts for 60 per cent of the sales." But this year, there are few enquiries.
The usual period for new launches is the Hindu Divali festival in November - but developers are already launching early or stalling projects, it appears.
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