Track2Realty: The economic downturn has subdued office and retail markets, resulting in a sales slowdown as well as pressurized capital values across leading cities—according to CBRE Research’s year-to-date coverage of trends in India’s real estate sector.
Track2Realty: Real estate sentiment remained fragile through a major part of 2012, as the global economy continued to face strong and persistent headwinds. Economic activity in Europe is seen to be contracting, while growth in the US has been modest.
India is reeling under the continued onslaught of inflation, petrol price hikes and generalized insecurity about where the economy is headed. Against all expectations, property prices in our metros have held firm and even show signs of upward movement. While the man on the street continues to wonder when he will be able to buy a modest home of his own, India’s super-rich are raising palatial homes at truly astronomical expense.
The demand fundamentals of the India story are now focused around all cities that have sufficient economic activity, be it industrial, service sector-driven or incentive-driven programs by the State Government. In Gujarat, which has seen considerable industrial progress, the key cities of Ahmedabad, Surat and Vadodara come readily to mind.
We recently saw an unprecedented turn in India’s history, when public opinion and passive resistance led by a small group of ‘civil society’ representatives persuaded a reluctant Government to proceed towards an anti-corruption legislation.
The report says India’s financial capital Mumbai is the richest city in the country followed by Delhi and Bengaluru in the second and third place respectively. The city is home to 46,000 millionaires and 28 billionaires with a total wealth of USD 820 billion.
To say that the year 2015 has not been very excisiting for the real estate market across the Mumbai Metropolitan Region (MMR) would be stating the obvious. The slowdown in the macro-economy, wait & watch by the homebuyers in the property market, relatively higher cost of borrowing till late and fate of reforms oriented policies hanging in uncertainty all collectively dampenend the property market in India’s financial capital. Will the year 2016 be any different?
Track2Realty: Pune’s Grade A commercial office real estate market has been increasingly attracting the attention of major office space occupiers as a second option to Mumbai, because of its freshly available quality space options, comparatively affordable rental rates, as well as its proximity and excellent connectivity with India’s financial capital.
It’s been a weak start to the year for the Mumbai real estate market with the number of property sales registered in India’s financial capital continuing to fall for the second consecutive month.
US billionaire real estate developer Donald Trump is finally making a serious move to transform the skyline of India’s financial capital, Mumbai. Trump is now planning to develop a super luxury 60-storey tall “condo” in south Mumbai. The Trump Tower is expected to be launched next month and is believed to have 45 flats across 60 floors, most of which will have one flat for every floor.