India and China have been forever up for comparison in the past. There has been no end to the debates on which of the two economies out-performs the other, and China seems to have emerged as the default favourite for any number of reasons.
DTZ Research estimates that US$316bn of capital will be available to invest in global real estate in 2012, a 4 per cent decrease on its previous estimate at the end of 2010.
Residential prices in Asia continue to increase, contrary to the pattern elsewhere, according to the Global House Price Index for the second quarter of 2011 by property consultant Knight Frank.
A report by real estate firm Knight Frank says worldwide mainstream house prices marginally avoided falling into negative territory with prices rising on average by 0.1% in the three months to June 2011 and by 1.7% over a 12-month period.
It fair to say that current property development status is very different from previous ones.
CoreNet Global’s recently released 2011 state-of-the-industry report on commercial real estate (CRE), there is good news to be found about 2010 and in the first quarter 2011.
Latin America and Asia remain the strongest real estate markets in the world but emerging markets in Europe, particularly Poland, show further improvements, according to the latest Global Commercial Property Survey.
Indian house prices rose rapidly from 2002 to 2007. Strong economic growth and urbanization supported house prices, while in city centres a housing bubble was encouraged by inadequate infrastructure, lack of planning and antiquated land use laws.
Global financial meltdown and the NRIs fear psychosis with the collapse of financial institutions seems to have by default been the catalyst to the realty boom in Punjab.
Reforms in the real estate sector is the need of the hour for tackling issues like high stamp duty which often results in otherwise honest people having to deal in black money, according to the Economic Survey 2010-11 tabled by Finance Minister Pranab Mukherjee in the Lok Sabha on Friday.