Even India's IT and property boom is over - Contractor UK Bulletin Board

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lilelvis2000 replied

27 April 2008, 10:23
Originally posted by pisces View Post

Pakistan = Boomed!!

Perhaps in Gwadar, which is a bit like Dubai..nothing but sand everywhere.
But far too dangerous anywhere else. Besides everyone in Pakistan wants out!
Leave a comment:
pisces replied

26 April 2008, 10:52
Pakistan = Boomed!!
Leave a comment:
DimPrawn started a topic Even India's IT and property boom is over

26 April 2008, 10:29
Even India's IT and property boom is over

http://business.timesonline.co.uk/to...cle3810486.ece

Free cars and mortgage-free living are being dangled in front of house-hunters in Bangalore as developers battle to halt a property slump in India's Silicon Valley.

House prices have fallen by as much as 20 per cent this year in the sub-continent's IT capital on the back of a building boom and fears that the US sub-prime crisis will stall the huge recruitment plans of the city's flagship outsourcing companies.

After the meltdown on Wall Street, the Indian software industry's most important client, similar declines are being reported in technology hubs across the country. Vincent Lottefier, head of the Indian operations of Jones Lang LaSalle, the property consultant, said: “We are definitely seeing pricing pressures and corrections in areas where outsourcers are putting on the brakes.”
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