Land prices
As prads_in has pointed out there are several factors which pushed property prices up.Builders hiking up apartment prices for no apparent reason but greed was another feature sending land prices shooting up.
Recently , in a meeting with the FM, RE companies made the curious statement that unless land prices come down, it would be unprofitable
to reduce prices.
Now my question to forum members is this. Is the reverse true ?
If there is a fall in apartment prices,say 30-50% which seems imminent,would the land prices follow suit ?
I would like to invite forum members' valuable comments on this.
Thanks in advance.
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