The land prices in both these countries are unrelated to the buying power of their citizens and furthermore these are both very large countries geographically, not land starved islands like Japan, Singapore, Honkong or Taiwan.
I'm not sure how much land prices have actually come down in the US now, but till around 2007 the US land prices were also unrealistic.
Germany is a great option. In 2007 a waterfront apartment of around 1000 sq. ft. cost around Euros 100,000 in Frankfurt, where a Taxi Driver (A Pakistani I chatted with) earned around Euros 32000 p.a., and engineers usually made around Euros 55,000 p.a., before taxes, i.e. two years salary of the Engineer.
Re: China and India definitely are real estate bubble cases
by as on Sep 17, 2010 01:01 PM
you wont get 1000sq feet apartment in 100,000€....you wont get that much area in 250,000 € also...any ya one more thing ,you cant compair german real state market to indian or chinese.. in germany apartment prices reduces with time whereas in india it increase with time...in germany buy propety to live while in asian countries to invest...samjhe
Re: Re: China and India definitely are real estate bubble cases
by Argumentative Indian on Sep 17, 2010 01:10 PM
I spent 120 seconds googling, after reading your post, a 3 Bedroom, 1 Bathroom 854 Sq. Feet apartment in BERLIN (not the much smaller Frankfurt) costs around Euro 119,500 TODAY, as on date.
Yes I agree that in asian countries people buy property to invest in. You are no doubt aware of more recent investment avenues, like derivatives and the most priceless of them all, Commodities.
That item, which Buddhus (Morons) like me, used to buy to eat, like wheat, pulses (Tur Dal anyone), are now investible commodities. Truly the wizards of Wall Street & the very aptly named Dalal Street know how to deal with money, and avoid bubbles, like real estate, Home Mortgages, these German engineers must be really dumb to buy propery to live in.
Since, I'm also a dumb person, I have not yet ventured to buy a house in India, am still waiting for the NDA to return to power.
The people who prepared this report have obviously not understood that as far as Tamilnadu is concerned, all land, houses, flats are all being bought by the Karunanidhi and Maran families under various benamies. A lot of land is also being bought by police officers with the blessings of the two families. Thanks, P.B.Mohan
Re: They have not heard of Karunanidhi
by Ronin Deshpande on Sep 17, 2010 12:31 PM
Its The Case of Whole Nation.. Politicians & Government Officials are indulged in such activities since independence..
Re: They have not heard of Karunanidhi
by Balakrishnan on Sep 17, 2010 05:10 PM
Not only Real estate , they are into every thing , if they continue in power , after 20 years , you will have nothing but grave yard left with
