US-based realty brokerage firm REMAX has forayed into India aiming to tap potential offered by middle-class families, with its business in America hit by the ongoing slump in the property market.
'Our business in the US is down by about 20% in last 18 months...India is strong market and the strength of middle-class families are increasing day-by-day. These families are expected to be actively involved in property transactions,' REMAX senior vice-president William E Soteroff said.
Apart from newly developed properties, the company would also deal with secondary sales, he said, adding, 'We will also try to organise the disorganised property brokerage business here'.
Times of India