In a recent survey done by PwC said that Chennai City for the first time has become the favourite hub for real estate investment for both domestic and international investors who are looking for secure assets on investments that will be outstanding in 2014.
The survey done by PwC with a heading 'Emerging Trends in Real Estate in Asia Pacific 2014' showed that in the Asia Pacific region for the first time Chennai appeared in the list of top 25 real estate destinations along with cities like Delhi, Bangalore, and Mumbai that have been in the top 25 list as ideal destinations.
The survey done by PwC with a heading 'Emerging Trends in Real Estate in Asia Pacific 2014' showed that in the Asia Pacific region for the first time Chennai appeared in the list of top 25 real estate destinations along with cities like Delhi, Bangalore, and Mumbai that have been in the top 25 list as ideal destinations.
Gautama Mehra, Executive Director in India for PWC said that interestingly, Chennai City has been chosen as one of the destination for the first time by investors for investments in real estate. He also added that this shows the investors interest in investing in major markets from conservative assets has moved to niche market with new and steady assets.
The survey report also showed the ranking of the cities where Bangalore was ranked at 20th place in the list falling from the 19th position in 2013, Mumbai was ranked at 23rd place, which had slipped from 20th position in 2013, Delhi remained at 21st as in 2013, and Chennai City, the new entry in the list was positioned at 22nd.
The rankings mentioned in the report is based on the views of over 250 renowned real estate experts worldwide that included the developers, investors, property company representatives, brokers, lenders, and consultants.
He also stated that though the domestic markets continue to grow strong in the cities that were ranked low, but the real estate market didn’t attract the international investors as anticipated due to the continuing economic problems and fall in the value of the rupee on the middle of the year.
With national elections alarming and it is likely that post election the investment market will be more approachable for foreign investors and many foreign investments are waiting for the election result, said Mehra.
Mehra also added that the domestic cities that have slipped in the rankings, yet retaining positions in top 25 lists shows the negative and positive impact on the markets. Speaking about the negative impact is due to the combination of market, regulatory, currency, and political hazard that raises a sense of concern and the affinity of foreign investors to wait on the sidelines; while the positive factor is the undeniable prospective that continues to drive the interest levels.
Furthermore, Mehra adding on the view of the report, he said that a more favorable and transparent environment in the market will attract greater levels of investment from both foreign and domestic.
The survey report also showed the ranking of the cities where Bangalore was ranked at 20th place in the list falling from the 19th position in 2013, Mumbai was ranked at 23rd place, which had slipped from 20th position in 2013, Delhi remained at 21st as in 2013, and Chennai City, the new entry in the list was positioned at 22nd.
The rankings mentioned in the report is based on the views of over 250 renowned real estate experts worldwide that included the developers, investors, property company representatives, brokers, lenders, and consultants.
He also stated that though the domestic markets continue to grow strong in the cities that were ranked low, but the real estate market didn’t attract the international investors as anticipated due to the continuing economic problems and fall in the value of the rupee on the middle of the year.
With national elections alarming and it is likely that post election the investment market will be more approachable for foreign investors and many foreign investments are waiting for the election result, said Mehra.
Mehra also added that the domestic cities that have slipped in the rankings, yet retaining positions in top 25 lists shows the negative and positive impact on the markets. Speaking about the negative impact is due to the combination of market, regulatory, currency, and political hazard that raises a sense of concern and the affinity of foreign investors to wait on the sidelines; while the positive factor is the undeniable prospective that continues to drive the interest levels.
Furthermore, Mehra adding on the view of the report, he said that a more favorable and transparent environment in the market will attract greater levels of investment from both foreign and domestic.
Nice information about Real Estate updates, Real Estate sector is growing like anything in India..
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