Word: demands
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...seen in any part of the world," he says. The trend is being driven by macro forces. As the country becomes richer and more urban (the number of people living in cities will rise to 461 million by 2025, from 286 million today, according to the Asian Development Bank), demand for housing should go right on booming...
Whether he likes it or not, that fortune is bound to attract attention. DLF is, after all, the hottest property developer in one of the hottest markets in the world. India's economy has grown more than 8% a year for the past four years, boosting demand for houses, offices, megamalls and hotels. Land prices in some areas have tripled in value since 2004, while office rents in Mumbai (formerly Bombay) and New Delhi are now more expensive than those in Paris, Hong Kong or midtown Manhattan. Yet the boom may still have room. Merrill Lynch forecasts India's property...
...Europe. But the Logan, which Renault builds in Romania and Russia and which costs as little as $7,200 - about 40% less than rival sedans - quickly took off in wealthier Western Europe as well. The car now sells in more than 50 countries and Renault is struggling to meet demand. "Our aim is to produce the most affordable car in its segment, and because we're doing that well, we're starting to see more affluent buyers and families buying Logans as their second and third cars," says Sylvain Bilaine, managing director of Renault India, where the model launched earlier...
...demand was coming not so much from borrowers as from Wall Street, which packaged the loans into securities to sell to investors looking to pile into "low risk" real estate. So mortgage brokers found ways to squeeze buyers into first and second mortgages even when their finances were questionable. Consider the appellation NINJA, used to indicate a buyer with no income, no job and no assets. "Capital was made available to every Tom, Dick and Harry," says Zachary Urban, who runs the Colorado Foreclosure Hotline...
...diaspora fuels this craze. "For them it is an issue of self-esteem and community sentiment," she says of the 20 million Indians settled abroad, or Non-Resident Indians (NRIs), as they are known. "In the southern state of Tamil Nadu, for instance, dowry has ceased to be a demand," she says. "But the groom's side insist that the wedding be a spectacular affair...