Even Trump building isn't immune to India's real estate woes
Rate of home sales has fallen by about half since the government's demonetisation in early November
Mumbai
AFTER trying for four months to sell his apartment in a western suburb of Mumbai, Meher Verma decided to cut the price by 10 per cent. With property demand plummeting in the wake of November's sudden ban on high-denomination notes, he's not sure the reduction will do the trick.
"I was hoping to sell my house soon," said Mr Verma, who put his two-bedroom property in Andheri on the market for US$400,000 in September. "Now it looks like I might have to cut my price or wait much longer for the market to improve."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Homebuyers shun new real estate in Vancouver, hurting builders
US pending home sales jump in March to hit highest in the year
Blackstone strikes US$1.6 billion student housing deal with KKR
European real estate deals slump to lowest level in 13 years
Singapore Q1 industrial rents rise further as occupancy dips and prices fall: JTC
Condo resale volumes rebound in March; prices inch up 0.4%: SRX, 99.co