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They were two different post deliberately done to differentiate my observations (Germany) and opinion (UK). I'm not lobbying for rent control as we haven't descended into big brother state. My pov was as long as rents are unaffordable and RE is speculators market w/o regulation we will foresee gullible investors (incl end users) losing money. All I'm referring to is % yield not Chennai vs London. I understand the dynamics and naive to compare them both. There are concerns here on foreign money flowing into C.London RE. Avg Londoner income is approx 50k £/annum (3000£/sq ft is 6% of gross income) . Now compare that with Chennai's avg income/person and Rs 30000/sq ft in C.Chennai. Over-inflated London appears cheaper than Chennai. Don't we see the bubble here? I'm strong advocate of demand-supply! but I do have concerns over irrational exuberance .[/QUOTE] No problem, you do not have to apologize. It is just a forum and it is a general topic. I agree prices are crazy, but not totally out of reality. You are forgetting about the people with very high amount of net worth (many with big% of black money) buy in Central Chennai. I am sure their income is way greater. Avg apt cost in Central Chennai is 15K per sqft. 15K/6% is 2,50,000. Ordinary people earn 2.5L, buyers in Central Chennai generally earn 25L on avg if you put together these HNIs. Look at my posts. [URL]https://www.indianrealestateforum.com/forum/city-forums/chennai-real-estate/29102-best-luxury-appartments-buildings-in-chennai/page5?t=31011&page=5[/URL]" ["moderated"]=> NULL ["pagetextimages"]=> NULL ["pagetext"]=> NULL ["htmlstate"]=> string(3) "off" ["allowsmilie"]=> string(1) "0" ["showsignature"]=> string(1) "0" ["attach"]=> array(0) { } ["infraction"]=> string(1) "0" ["reportnodeid"]=> string(1) "0" ["iconpath"]=> NULL ["channelroute"]=> string(2) "90" ["channeltitle"]=> string(19) "Chennai Real Estate" ["channelid"]=> string(2) "29" ["starterroute"]=> string(2) "91" ["startertitle"]=> string(32) "Property Price Trends in Chennai" ["starterauthorname"]=> string(8) "nabishek" ["starterprefixid"]=> string(1) "0" ["starteruserid"]=> string(4) "6146" ["starterlastcontentid"]=> string(7) "2694814" ["startertotalcount"]=> string(4) "2377" ["starterurlident"]=> string(32) "property-price-trends-in-chennai" ["deleteusername"]=> NULL ["lastauthorname"]=> NULL ["edit_reason"]=> NULL ["edit_userid"]=> NULL ["edit_username"]=> NULL ["edit_dateline"]=> NULL ["hashistory"]=> NULL ["starternodeoptions"]=> string(3) "138" ["channelnodeoptions"]=> string(3) "138" ["contenttypeclass"]=> string(4) "Text" ["createpermissions"]=> bool(false) ["moderatorperms"]=> array(26) { ["caneditposts"]=> int(0) ["candeleteposts"]=> int(0) ["canopenclose"]=> int(0) ["caneditthreads"]=> int(0) ["canmanagethreads"]=> int(0) ["canannounce"]=> int(0) ["canmoderateposts"]=> int(0) ["canmoderateattachments"]=> int(0) ["canmassmove"]=> int(0) ["canmassprune"]=> int(0) ["canviewips"]=> int(0) ["canviewprofile"]=> int(0) ["canbanusers"]=> int(0) ["canunbanusers"]=> int(0) ["newthreademail"]=> int(0) ["newpostemail"]=> int(0) ["canremoveposts"]=> int(0) ["caneditsigs"]=> int(0) ["caneditavatar"]=> int(0) ["caneditpoll"]=> int(0) ["cansetfeatured"]=> int(0) ["canmoderatetags"]=> int(0) ["canaddowners"]=> int(0) ["canharddeleteposts"]=> int(0) ["canundeleteposts"]=> int(0) ["candeletethread"]=> int(0) } ["channeltype"]=> string(5) "forum" ["canedit"]=> int(0) ["canview"]=> int(1) ["canmove"]=> int(0) ["candeleteposts"]=> int(0) ["candeletethread"]=> int(0) ["canopenclose"]=> int(0) ["canremove"]=> int(0) ["canundeleteposts"]=> int(0) ["showUnpublishedNotice"]=> int(0) ["canharddeleteposts"]=> int(0) ["moderate"]=> array(1) { ["candeleteposts"]=> int(0) } ["canmoderate"]=> int(0) ["textcount_1"]=> int(1) ["totalcount_1"]=> int(1) ["allow_post"]=> int(1) ["moderate_comments"]=> int(0) ["approve_membership"]=> int(1) ["invite_only"]=> int(0) ["autoparselinks"]=> int(0) ["disablesmilies"]=> int(0) ["disable_bbcode"]=> int(0) ["hide_title"]=> int(0) ["hide_author"]=> int(0) ["hide_publishdate"]=> int(0) ["display_fullincategory"]=> int(0) ["display_pageviews"]=> int(0) ["hide_comment_count"]=> int(0) ["can_flag"]=> int(0) ["caninfract"]=> int(0) ["canviewnodeinfraction"]=> int(0) ["canseewholiked"]=> int(0) ["can_comment"]=> int(0) ["canreply"]=> int(0) ["permissions"]=> array(12) { ["canedit"]=> int(0) ["canmoderate"]=> int(0) ["canvote"]=> int(0) ["canuserep"]=> int(0) ["canremove"]=> int(0) ["can_flag"]=> int(0) ["canviewthreads"]=> int(1) ["canviewothers"]=> int(1) ["caninfract"]=> int(0) ["canviewnodeinfraction"]=> int(0) ["canseewholiked"]=> int(0) ["can_comment"]=> int(0) } ["signature"]=> NULL ["musername"]=> string(3) "k11" ["online"]=> string(7) "offline" ["reputation"]=> string(1) "1" ["showreputation"]=> int(1024) ["reputationlevelid"]=> string(1) "4" ["reputationpower"]=> int(1) ["reputationimg"]=> array(3) { ["type"]=> string(3) "pos" ["level"]=> string(11) "reputation4" ["bars"]=> int(0) } ["canedittitle"]=> int(0) ["userinfo"]=> array(8) { ["userid"]=> string(4) "9947" ["username"]=> string(3) "k11" ["rank"]=> string(0) "" ["usertitle"]=> string(14) "Veteran Member" ["joindate"]=> string(10) "1219571628" ["posts"]=> string(4) "2419" ["customtitle"]=> string(1) "0" ["userfield"]=> array(1) { ["field7"]=> string(0) "" } } ["photocount"]=> int(0) ["nodeVoted"]=> string(1) "0" ["attachments"]=> array(0) { } ["avatar"]=> array(2) { ["hascustom"]=> int(0) ["avatarpath"]=> string(39) "images/default/default_avatar_thumb.png" } ["isVisitorMessage"]=> int(0) ["subscribed"]=> int(0) ["joined"]=> bool(false) ["can_use_multiquote"]=> string(1) "0" ["views"]=> int(0) ["senderAvatar"]=> array(2) { ["hascustom"]=> int(0) ["avatarpath"]=> string(40) "images/default/default_avatar_medium.png" } ["parsedSignature"]=> string(0) "" }
Originally posted by Clairvoyant
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Apologies if it had confused you. They were two different post deliberately done to differentiate my observations (Germany) and opinion (UK).
I'm not lobbying for rent control as we haven't descended into big brother state. My pov was as long as rents are unaffordable and RE is speculators market w/o regulation we will foresee gullible investors (incl end users) losing money.
All I'm referring to is % yield not Chennai vs London. I understand the dynamics and naive to compare them both. There are concerns here on foreign money flowing into C.London RE. Avg Londoner income is approx 50k £/annum (3000£/sq ft is 6% of gross income) . Now compare that with Chennai's avg income/person and Rs 30000/sq ft in C.Chennai. Over-inflated London appears cheaper than Chennai. Don't we see the bubble here? I'm strong advocate of demand-supply! but I do have concerns over irrational exuberance .
I'm not lobbying for rent control as we haven't descended into big brother state. My pov was as long as rents are unaffordable and RE is speculators market w/o regulation we will foresee gullible investors (incl end users) losing money.
All I'm referring to is % yield not Chennai vs London. I understand the dynamics and naive to compare them both. There are concerns here on foreign money flowing into C.London RE. Avg Londoner income is approx 50k £/annum (3000£/sq ft is 6% of gross income) . Now compare that with Chennai's avg income/person and Rs 30000/sq ft in C.Chennai. Over-inflated London appears cheaper than Chennai. Don't we see the bubble here? I'm strong advocate of demand-supply! but I do have concerns over irrational exuberance .
No problem, you do not have to apologize. It is just a forum and it is a general topic.
I agree prices are crazy, but not totally out of reality.
You are forgetting about the people with very high amount of net worth (many with big% of black money) buy in Central Chennai.
I am sure their income is way greater.
Avg apt cost in Central Chennai is 15K per sqft.
15K/6% is 2,50,000.
Ordinary people earn 2.5L, buyers in Central Chennai generally earn 25L on avg if you put together these HNIs.
Look at my posts.
https://www.indianrealestateforum.co...t=31011&page=5
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