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Residential property prices increases in India, yet less when compared to the other countries in Asia.
The real estate prices in the year 2013 saw a moderate rise but was less when compared with other Asian countries. According to a report by one of the global real estate consultants, Bangalore witnessed rise in property values by 6 per cent and the drive behind this was the demand from end-users. Whereas Delhi and Mumbai witnessed growth by 2 per cent and 3 per cent respectively, which was lower when compared with the average increase in property prices in Asia-Pacific region i.e., 13.5 per cent in the same period.
The world-wide property price comparisons showed that Jakarta saw a surge in property prices by 38 per cent in 2013, while Auckland and Bali saw an increase in property prices by 29 per cent and 22 per cent correspondingly in the same period.
Monaco appeared to be the world’s most expensive city by selling key residential property at (currency not mentioned) 3.84 lakh per sq. ft., which is 11 times more than the cost in Delhi. In India Mumbai emerged to be as the most expensive city by selling residential property at (currency not mentioned) 60,000 per sq. ft.
Though the property value increased moderately, it is observed that most of the Indian high net-worth investors invest in real estate when compared with the global HNIs. The report also mentioned that about 44 per cent of funds are invested in property where the Asian HNIs average of 28 per cent was higher than the global HNIs whose average was 24 per cent.
The property investment is tilted to residential assets and commercial property saw only 30 per cent of its part. The report also revealed that the India billionaires’ population will double in the next decade excelling Asian countries like Thailand and Singapore. It is likely that by 2013 USA, Russia, and China will house more billionaires than India.
The increase in the number of affluent in Delhi and Mumbai will drive the demand in the cities. The report also stated that Mumbai is likely to be ranked in this global real estate consultant’s list of top 10 global cities by 2024.
The real estate prices in the year 2013 saw a moderate rise but was less when compared with other Asian countries. According to a report by one of the global real estate consultants, Bangalore witnessed rise in property values by 6 per cent and the drive behind this was the demand from end-users. Whereas Delhi and Mumbai witnessed growth by 2 per cent and 3 per cent respectively, which was lower when compared with the average increase in property prices in Asia-Pacific region i.e., 13.5 per cent in the same period.
The world-wide property price comparisons showed that Jakarta saw a surge in property prices by 38 per cent in 2013, while Auckland and Bali saw an increase in property prices by 29 per cent and 22 per cent correspondingly in the same period.
Monaco appeared to be the world’s most expensive city by selling key residential property at (currency not mentioned) 3.84 lakh per sq. ft., which is 11 times more than the cost in Delhi. In India Mumbai emerged to be as the most expensive city by selling residential property at (currency not mentioned) 60,000 per sq. ft.
Though the property value increased moderately, it is observed that most of the Indian high net-worth investors invest in real estate when compared with the global HNIs. The report also mentioned that about 44 per cent of funds are invested in property where the Asian HNIs average of 28 per cent was higher than the global HNIs whose average was 24 per cent.
The property investment is tilted to residential assets and commercial property saw only 30 per cent of its part. The report also revealed that the India billionaires’ population will double in the next decade excelling Asian countries like Thailand and Singapore. It is likely that by 2013 USA, Russia, and China will house more billionaires than India.
The increase in the number of affluent in Delhi and Mumbai will drive the demand in the cities. The report also stated that Mumbai is likely to be ranked in this global real estate consultant’s list of top 10 global cities by 2024.
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