There was a similar boom in 1994 when speculation was rife that Hongkong based Indians would flee to India seeking safer havens owing to the impending chinese takeover in 1997. When that bubble burst, properties in Airport Rd ... came crashing. Bottom line. Buy a property only when you need, not when you are forced to buy one. For a city that doesn't even have a proper international airport, how can one pay such sky high prices. Cities all over the world known for high realty prices have good infrastructure. Bangalore doesn't fall into that category. Also, people who buy such an expensive homes won't be poor and would atleast want good parking space for their 2 or 3 cars. This city doesn't even have proper parking space for two wheelers. It is certainly the eighth wonder that these prices are high. It is a well deserved crash.
