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Realty investments in India dip 65% in 2013

Source : BUSINESS_STANDARD
Last Updated: Thu, Apr 03, 2014 21:33 hrs
​Real Estate

In 2013, investments in India's real estate sector fell 65 per cent to $1.2 billion, making the country the 10th most invested region in Asia-Pacific, according to a report by real estate consultant Cushman & Wakefield. In 2012, Indian realty had received investments of $3.4 billion; then, too, it was 10th in the region.

The sector in Asia-Pacific received investments of $487 billion. China recorded the highest investments at $358 billion, followed by Japan ($44.6 billion), the report, Investment Market Beat  2013, said. In India, investment in land fell 61 per cent in 2013, while the office space saw a 77 per cent dip, compared to 2012. Sanjay Dutt, executive managing director (South Asia), Cushman & Wakefield, said, "Investors have adopted a poignant pause, owing to concern on the Indian real estate market environment, as India is at a political cusp, with general elections round the corner… The decline in investment is, however, not indicative of the sentiment investors have of India, as it continues to show promise as a key market in Asia-Pacific. We expect the economy in general and investment markets in particular to start seeing remarkable improvements by 2015."

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