In India 1 acre of good agricultural land costs $200,000 to $400,000. I think some 1 acre high profile commercial land in Mumbai (India) cost $10 million and more (not sure). A ordinary 400 square feet apartment in Mumbai (India) costs some $80,000. Different places have different real estate prices. The same apartment in high scale Mumbai costs 500,000 estimate. Where in the world will you find such sky-high reale estates?
London. Someone here was trying to sell a garden shed here for a million pounds. I think someone offered £950k which was rejected IMMEDIATELY.
I think India's food inflation is 12% or 13% because 1 acre of good agricultural land costs $200,000 to $400,000. Sometimes India's food inflation reaches 18% (not sure).
In all big cities of India, majority of real estates are sky-high priced. I think all good agriculture land in India are sky-high priced. In other countries, exceptional properties are high priced.
Read this. Somebody said to me "could you just put positivity in your mind and spread good things to the world" http://www.elitetrader.com/vb/showthread.php?s=&threadid=217418
- High Inflation - People Buy and LIVE/Use the Real Estate - Most of them 100% Self Financed (fewer Loans - atleast on the Retail side) - Money Flow from Outside world It MUST be a bubble but it is little different than US - which is 3 times larger in size and 1/4th the population. Prices in Indian real estate markets has or will soon be highest in the world. Buy some if YOU CAN !!
India is having serious high inflation problems. How will people buy real estate properties when all their money is spent on daily essentials. There are some frauds/scams being dicovered in India right now involving government people. High inflation is uncontrollable. There is high possibility that India government will fall/change in coming days.
1 acre of good agricultural land should be around $50K not 200-400K. Cannot judge India from the Mumbai alone figures. Remember real estate is limited so governments of countries with high population densities should try to build high rise apartments and business complexes to leave some green land alone. Japan is already on its way to several mile high buildings with green back yard houses, shopping complexes and hospitals in one structure.
It costs more than that in Paris, Hong Kong as well as london, and much more in Monaco, but the per capita is much higher in those places than in Mumbai if that should count.