Realty records $2.87-bn investment in top cities

    Realty records $2.87-bn investment in top cities
    Ease of doing business together with accelerated pace of reforms, high yields and rapidly modernizing business bases have helped India's top six cities to record 100% jump in real estate investments over one-year period ending in June this year. Top six property markets including Mumbai, Bengaluru, Pune, Delhi – NCR, Chennai and Hyderabad have attracted investments worth $2.87 billion during this period. Of this, 75% of money has come from overseas institutional investors, said a recent report by Cushman & Wakefield.

    Mumbai recorded real estate investments of $ 1.75 billion, placing it on 81st position in global survey ranking over 400 cities by their success at attracting capital. However, Mumbai was placed number one in terms of growth amongst the gateways cities with a 194% increase from the previous year. Only Pune outshines Mumbai in terms of investment growth at 285%. The survey places Bengaluru at 161st rank with total realty investment volume of $ 461 million. While established markets of Mumbai, Bengaluru and Delhi NCR have seen the larger share of capital investments, cities such as Chennai, Hyderabad and Pune are also key destinations due to their inherent strengths as crucibles for multi-sector manufacturing activities for automobiles, engineering goods, white goods, pharmaceutical products, said Country Head & Managing Director, India Cushman & Wakefield, Anshul Jain.

    New York with $ 51 billion remained the top city in the survey followed by Los Angeles $ 39 billion and San Francisco $ 32 billion. In Asia, Hong Kong, with global rank of 8 received the highest volume of investment at $ 18.4 billion.
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