the price of cHinese real assets to rocket again ?

Discussion in 'Defence & Strategic Issues' started by badguy2000, Jul 5, 2009.

  1. badguy2000

    badguy2000 Respected Member Senior Member

    Joined:
    May 20, 2009
    Messages:
    4,957
    Likes Received:
    613
    today, I ordered one condo in the city.

    the condo is about 95 square meters large and costs 0.55 million RMB( about 3.9 million Rupees). eveny square meter costs 5300 RMB( about 37100 rupees). the seller rejected to offer any discount now!

    the city where I live is a mid-size city and the capital of one prefecture.
    Last year when economy went into depression, every square here costed only 3000-3500 RMB(21000-24500 Rupees ) .Besides, sellers also provided all kinds of discounts.

    But after this spring, case seems quite different. the price of condoes here goes up again.

    I quite regret not ordering the condo last year.
     
  2.  
  3. EnlightenedMonk

    EnlightenedMonk Member of The Month JULY 2009 Senior Member

    Joined:
    Mar 7, 2009
    Messages:
    3,831
    Likes Received:
    23
    You should've gone in for it last year my friend... I'd invested last year too when the prices slumped slightly in Bangalore after the crash, now things are looking up again...
     
  4. Yusuf

    Yusuf GUARDIAN Administrator

    Joined:
    Mar 24, 2009
    Messages:
    24,274
    Likes Received:
    11,287
    Location:
    BANGalore
    I did not feel there was any effect of the crash in Bangalore. Go anywhere and you won't get anything less than 5 million rupees.
     
  5. EnlightenedMonk

    EnlightenedMonk Member of The Month JULY 2009 Senior Member

    Joined:
    Mar 7, 2009
    Messages:
    3,831
    Likes Received:
    23
    Fortunately for me, it did affect the area in which we were interested in and I got it for about 10% less than what I would have paid otherwise...
     
  6. Yusuf

    Yusuf GUARDIAN Administrator

    Joined:
    Mar 24, 2009
    Messages:
    24,274
    Likes Received:
    11,287
    Location:
    BANGalore
    Well 10% is not a big difference is it. Imagine badyguys plight! difference is nearly 50%
     
  7. EnlightenedMonk

    EnlightenedMonk Member of The Month JULY 2009 Senior Member

    Joined:
    Mar 7, 2009
    Messages:
    3,831
    Likes Received:
    23
    Yep, Badguy lost out bigtime... even in Mumbai the crash was 15-20% in terms of value, but luckily in Bangalore the area I was looking at also experienced about 10% depreciation unlike a pittance in the rest of the city...

    It was a known fact that China would suffer during the slump and it has held true, and the other prediction that Indian real-estate would not suffer as much has also held true...

    In my case, considering the overall cost of that property 10% saved me a little over 10 lakh rupees
     
  8. Yusuf

    Yusuf GUARDIAN Administrator

    Joined:
    Mar 24, 2009
    Messages:
    24,274
    Likes Received:
    11,287
    Location:
    BANGalore
    A third of the amount you require for your merc. The rest will be taken care by your investment!
     
  9. EnlightenedMonk

    EnlightenedMonk Member of The Month JULY 2009 Senior Member

    Joined:
    Mar 7, 2009
    Messages:
    3,831
    Likes Received:
    23
    :d_training::d_training::d_training:
     

Share This Page