Indian Property Market Set for Significant Overseas Investment
Despite record-high property prices, India's real estate market is poised to attract approximately US$3 billion in investments from overseas buyers this year, nearly doubling last year's US$1.6 billion, according to a recent report by Jones Lang LaSalle, a leading property broking and real estate consulting firm.
Attractive Investment Destination
India remains an attractive investment destination globally, with one-third of the expected investment coming from home buyers and the balance from investors, notwithstanding the significant surge in property prices.
Property Price Surge in Indian Cities
A recent National Housing Bank (NHB) survey reveals that property prices in major Indian cities have skyrocketed by as much as 43% to 166% over the last four years. Key highlights include:
- Chennai: Saw the highest price rise at 166%.
- Bhopal: Experienced a 117% increase, ranking second.
- Mumbai: Recorded an 87% hike, securing the third spot.
Drivers of Overseas Investment
Despite global financial turmoil, several factors contribute to India's appeal to overseas investors:
- Robust Economic Growth
- Rapid Urbanization
- Growing Middle-Class Population
- Demographic Advantage
- Increased Thrust on Infrastructure
Indian Property Shows Abroad
Buying property in India is particularly popular among the Indian diaspora. This trend is reflected in the growing success of Indian property shows globally. Dubai-based Sumansa Exhibitions has witnessed rapid growth in both developer participation and attendee numbers across its shows in:
- UK
- South Africa
- Hong Kong
- Dubai
- Singapore
Upcoming Event: Indian Property Show in Singapore
- Dates: April 14 and 15
- Location: Suntec Exhibition Centre's Hall 401, Singapore
- Participating Developers: Nearly 40 from across India
- Properties Showcase: Over 200 properties
- Expected Footfall: Substantially higher than last year's 4,000 attendees