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Local Business

Is black money boosting property market?

Undeclared income, a sudden upsurge in business for some services and limited places to deposit one’s income, are driving some investors towards real-estate investment. To this end, the somewhat uncertain future of some of the local financiers, the difficulty in sending one’s money abroad (with questions asked) and the low deposit rates, have directed some cash-rich individuals’ and firms’ attention towards local real-estate investment.

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