India is set to become a key player in the Asian real estate market in the next five years. The declaration has been made by the popular British business investor and financial expert Adhum Carter, who comes with a strong real estate background.
Talking about the Asian real estate scenario, Carter claimed that the investment transaction volume will continue to remain on top in the coming years owing to strong economic growth and lowered interest rates. While markets like India and Taiwan performed decently and made a respectable contribution to the Asian investments in 2017, India will emerge as the commercial hub in Asia in the coming years.
“China, Japan, and India are becoming the hubs for commercial office spaces, as huge partnership deals are being signed between them and international conglomerates,” Carter told Qrius.
The real estate expert also pointed out that policies like RERA and GST have helped bolster the tier 1 Indian cities to rise up in the JLL’s 2018 Transparency Index from the 36th rank. He cited the JLL and CREDAI report to further press that by 2020, India’s real estate market is set to hit 180 billion dollars from 120 billion dollars in 2015.
In the coming years, the Indian market will reportedly witness a spree of cross-border transactions. In fact, the trend has already begun when Singapore’s GIC purchased a 33 percent stake in a unit of DLF Cyber City for US$ 1.4 billion, and Allianz’s real- estate arm announced its partnership with India’s Shapoorji Pallonji Group to establish a fund of US$500 million to target India’s office market.
Due to these investments, the global giants are eyeing to enter India and are expected to make investments strides through partnerships, in the upcoming future. On the whole, Carter believes that the Asian real estate market will see a gradual upward trend in the coming few years with India and Japan leading the pack.