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Bangladesh luxury home sales plunge
Sales of luxury flats and cars have almost ground to a halt in  Bangladesh since the new government launched a nationwide crackdown on corruption, company officials say. The authorities started to tackle widespread graft in late January after a military-backed government came to power with a pledge to wage an all-out fight on graft and go after underworld-linked politicians. The sales of luxury flats are almost nil. Only a few NRBs (non-resident Bangladeshis) are buying some flats, said Abdul Awal, president of Real Estate and Housing Association of Bangladesh (REHAB). The sales of luxury cars like BMW, Mercedes, Lexus and Porsche have also crashed.Posted by: Fred 2007-03-07 |
| http://www.rantburg.com/poparticle.php?ID=182425 |