The last few months have seen a lot of mid-sized office and mixed-use buildings in Mumbai going under the hammer. Not very surprising, considering the wave of real estate redevelopment that has swept the city. What is so unusual about these buildings is the fact that they are going to be redeveloped into stand-alone retail formats.
In India, investor interest is also seeing a slowdown on account of the lower absorption of new developments and the disparity between investment returns and capital values.
Market report has it that commercial realty is continuously going into red. A Report by the Royal Institution of Chartered Surveyors (RICS) suggests Indian commercial property market has lost momentum in Q3 with the capital values turning negative for the first time since 2009.
India has the second largest population in the world and is expected to overtake China by 2025. Fulfilling the housing needs of the Indian population which is growing at 1.41% annually is a tremendous challenge for the government today.
Economic growth and real estate performance are two significantly intertwined characteristics. It is widely accepted fact that demand for real estate space is drawn and influenced from economic environment.
Market forces of demand and supply are the most potent determinants of price and the developments in the real estate industry during year 2011 is the latest example.
What is in store for the real estate sector in 2012 remains the biggest question. Knight Frank believes in terms of the residential segment, the deadlock between the buyers and developers should break in favour of buyers.
Asia Pacific office markets may be resilient but definitely not immune to the euro crisis, says the latest report of DTZ.
With FDI now permitted for multi-brand retailing in India, global retail giants are now zeroing in on India.
Indian commercial property market has lost momentum in Q3 with the capital values turning negative for the first time since 2009.