Mumbai: India will be among the top real
estate investment markets in Asia in 2010 with Mumbai and
Delhi raking second and fourth best locations respectively,
according to an industry report.
A report titled emerging trends in Asia-Pacific real
estate market in 2010, which was released here today by the
Urban Land Institute and PricewaterhouseCoopers, provides an
outlook on the Asia-Pacific real estate investment and
development trends. The describes India and particularly
Mumbai and Delhi as good realty investment destinations.
The report also noted that residential properties are
more promising than other sectors in the country. "The
relatively stronger fundamentals, and lack of dependence on
foreign demand are seen as key advantages as India has managed
to mitigate the severe recession that has hit most other Asian
countries," PwC India's real estate practice leader Gautam
Mehra said.
"Recapitalisation by players in equity markets across Asia
has been successfully replicated by some Indian developers,
which has helped ease the liquidity stresses" he added.
According to the report, Shanghai, Hong Kong and
Beijing are the top three real estate investment prospects.
Shanghai, Mumbai, and New Delhi are the first, second, and
fourth locations respectively for real estate development
opportunities, with Ho Chi Minh City at the third slot for
development prospects, it said.
Development has increased in all property sectors in
Mumbai, the report observed. Construction of affordable
housing is particularly strong, as the government continues to
lower mortgages and the middle-class is being offered
"good-quality, honest accommodations."
Investments within the hotel sector are a stable prospect,
as India is projected to be the second-fastest growing tourism
market in the world, the report said.
Similar to Mumbai, New Delhi remains fairly stable in
its movement from the 2009 emerging trends publication. In
addition to the residential property buying opportunities, the
national capital is expected to prosper from increased tourism
and shows signs of market recovery in the coming year, the
report said.
Real estate investments and developments in Bangalore
are not seen as capital-focused compared to last year, the
report said.
PTI
First Published: Thursday, December 10, 2009, 23:47