Wondering if I should invest my few spare bob in property in India, now that it’s a waste of money doing that here… Where are all those Hibernian jobs going again? Any ideas, anyone?
Aw well!
Right then (changing tack): I’ll keep tracking the US property market in the hope that a combination of low house-prices and weak dollar might open up a reasonable investment proposition in the next year or so.
Thanks.
I wouldn’t give up on it totally the article also mentioned that in Mumbai & New Delhi prices are flying up
Property in india makes property in ireland look cheap - the earning multiples over there must be something shocking.
India is different.
-Rd
Yeah - real-estate going for prime manhattan like prices in the near third world country - different is one word for it.
“Hey didn’t that exact thing happen in Ireland?” would be another way of putting it.
I see tears in the future.
Time for ThePropertyPindia.com
-Rd
cringe
You’ll pay for this!!!
shakes fist
Good one though 
There was one place we looked at in early 2007 in Florida, other properties in the development had sold for over $300K. They were looking for $290K when we were there.
We couldn’t offer more than 160K, the places were way bigger than we were even thinking about.
Last night I noticed one of the houses that sold for $313K in Sept 2006 is now asking $184900 (a 41% drop not counting inflation or the dollar).
-Rd
I thought there were foreign ownership restrictions, as well as capital controls in India.
You really want to be right on the inside I would have thought to make that a sensible play.
Stay away from India unless you have very good connections locally.
average 3 bed semi property at peak of irish boom was somethin like 320-350k or 9-10 times avg industrial wage.
20,30 or 40 k in india is probably 15-20 times avg industrial wage . if you have the cash to pay for all or most of it plus some flights twice a yr then it may be diff…you know wha they say if you have to ask you dont know…
I had heard that Larionovo was closing down which may be a better explanation. It was in the Indo not too long back IIRC .