Trend of small cities • Developers to double investment to Rs 1,000 crore in Tier-2/3 cities in 2023.
The interest of foreign investors in Indian real estate is increasing. During the last 5 years, he invested an average of Rs 33,000 crore every year in this sector. According to a report by Canadian investment management company Colliers, foreign investment in the domestic real estate sector is expected to increase by 20% to more than Rs 29,800 crore during 2023.
Investing in property is not limited to big cities only. Amid strong demand, developers are also turning to smaller cities to acquire land. According to global commercial real estate services firm CBRE, investment in the property market of India’s Tier-II and Tier-III cities doubled to a record Rs 1,000 crore last year from Rs 5,000 crore.
Asia-Pacific investors at the forefront
- So far, investors from America and Canada have invested the most money in Indian real estate.
- Now investors from countries like Singapore, Hong Kong, South Korea and Japan are also turning to India.
- Asia-Pacific’s • Investment increased by 57% to Rs 14,911 crore in 2023, 70% of which came in office space.
- Now the interest of these investors is also increasing in residential, industrial and warehousing segments.
2019-23 Foreign investment increased
42,247 crore total annual average investment
33,135 crore annual average foreign investment
77% share of foreign investors.
Investment Colliers MD Chris Pilgrim said that foreign investment in Indian real estate will increase this year also. The new funds will approach the Indian market. Office and housing will be their priority.
2019-23: Highest number of foreign funds in office.
Source- Dainik Bhaskar
