US Property markets have already crashed.
UK is not doing any good, here is a news clipping about London: http://www.propertywire.com/news/related-stories/hong-kong-expensive-office-property-200903012704.html
And Germany is next on the list of problems:
http://www.bloomberg.com/apps/news?pid=20601109&sid=a34Y6NVYrVyk&refer=home
Should Indian Real Estate be any different?
Some people may go by P/B or % of mkt value erosion to demonstrate that Real Estate sector is already bottoming out, but I believe there is still a long way to go down further.
Esp. places where both the developer and the flat buyers were highly leveraged.
e.g. South Bangalore (South of Silk Board, Bannerghatta Road, JP Nagar, Ejipura, Domlur), Chennai (Old Mahabalipuram), Hyderabad (Gachibowli and North , North West of it and the areas around Madhapur)
Especially
Disclaimer:
I hold DLF and DS Kulkarni among pure-play real estate stocks in India, more because of laziness than anything else. Its value has depreciated so much that I don't even bother sell what I have, hardly makes any difference.
Sold Akruti around 1000, Mahindra Gesco(Now Mahindra Life Space) around 500.
Not that any of the stock is better than the other.I think all are due correction, the higher the leverage the steeper the correction.
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