Is the real estate market in chennai hyped? Is it a bubble?

Question

Is the indian economy on the right path. Globalisation and foriegn investment is eroding the average middle class indians affordability. Especially housing has become dearer. like to know of some good online site giving facts about indian economy

Answer 1

Houses are likely overpriced right now, but I doubt that the bubble will burst dramatically. You indicate that there is an affordability issue, which indicates to me that there are individuals who wish to purchase houses. Thus, there appears to be a ready demand for these houses, just at lower prices. What you will likely see in the coming months is some softening in housing prices, with prices slowly coming down and some of the buyers willing to pay these slightly lesser prices coming into the market. Thus, the high prices will right themselves slowly and will not be likely to burst and cause a crash of any sort.

Hope this helps.

Answer 2

It is a bubble like share market and at any time it will burst be careful.Good luck

Answer 3

Yes.. in my opinion...