Battling huge vacancies, piling inventories and lacklustre rentals, the Indian real estate is looking forward to retail FDI as a savior, expecting a windfall following the entry of global giants looking for more retail space for expansion.
The festival of Diwali has a direct bearing on the property market, and irrespective of the overall macro economic scenario the property transactions around this time of the year have been the maximum.
Encouraged by the number of Indians who have bought property in and around Kuala Lumpur, a Malaysian delegation is in the city to attract high net worth individuals to make Malaysia their second home.
Less launches, pragmatic marketing, innovative packages, product bundling and online brand promotion, the real estate developers in Mumbai are leaving no stone unturned to beat the inflationary pressure.
Jones Lang LaSalle as part of its most recent initiative to provide ‘best’ service to its clients, owners and sellers, has launched a new customised and dedicated residential portal for Asia Pacific.
The Mumbai commercial property market has displayed resilience in the recent past.
The Confederation of Real Estate Developers’ Association of India (CREDAI) has estimated that the sector will face a funding gap to the tune of USD 70 billion over the next five years.
On 11 March, a major earthquake and tsunami hit Eastern Japan. According to official statistics, the number of deceased had surpassed 13,000 as at 14 April.
Real estate and construction has been voted as the most corrupt sector in India, according to a survey by global consultancy firm KPMG.
It would seem that the Union Budget 2011 pointedly ignored the larger issues affecting the Indian real estate sector at this sensitive stage of revival and growth.