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Asia Pacific Watch

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Asia Pacific Watch

In this edition of Asia Pacific Watch we shall focus on India. For the past several years, investment in India has not been one of our key market recommendations. For many macro-economic and property-cycle risk-related reasons, coupled with regulatory challenges and transparency deficiences, the returns from Indian real estate have not appeared to justify the risks inherent in the market. Even today, we have no robust way of measuring this trade-off with no recognized fund-level or property-level index or benchmark for unlisted real estate covering India. But with the landslide election victory of Narendra Modi and what may be a powerful parliamentary majority, hopes are certainly high that the coming decade may be more favorable to India compared to the past decade. Certainly India shares the promise of all emerging markets in the region in terms of demand drivers for a greater quantity and higher quality of real estate stock and of a scale surpassed only by China. The equity markets have immediately rallied. Might real estate follow in the years to come ?

Source : CBRE Global Investors

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