http://www.bloomberg.com/news/2011-06-16/mumbai-to-melbourne-home-boom-stalls-as-tightenings-put-brakes-on-prices.html
In India, where the central bank has raised rates 10 times since March last year, Mumbai home prices have declined 20 percent from their 2010 peak. Lower sales, higher land values and increased borrowing costs are forcing developers to reduce prices, according to Jones Lang LaSalle India. Prices in the city may decline as much as 35 percent over the next two years, according to Liases Foras Real Estate Rating & Research Pvt.
In India, where the central bank has raised rates 10 times since March last year, Mumbai home prices have declined 20 percent from their 2010 peak. Lower sales, higher land values and increased borrowing costs are forcing developers to reduce prices, according to Jones Lang LaSalle India. Prices in the city may decline as much as 35 percent over the next two years, according to Liases Foras Real Estate Rating & Research Pvt.
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