Rich and powerful see New York and London as the leading business hubs over the next 10 years, but emerging nation centres are catching up.
Greed is coming back. So, developers can increase prices. I am sure that prices will not go down from here onwards.
A weaker pound and robust economies at home have made Asians the largest investors in Central London's real estate market, a global property consultancy firm, Knight Frank said recently.
This year's survey reveals 14 cities sliding down the rankings and 16 moving up.
European cities continue to lead in terms of quality of life.
Though New York and London are seen by high net worth individuals as the world's leading hubs over the next 10 years, emerging nation centres are fast catching up.
Consultancy firms Jones Lang Lasalle Meghraj and Knight Frank India said there are about 7,000 such apartments to be delivered within a year in Mumbai alone, where the cost is not below Rs 4.7 crore (Rs 47 million) for a single unit.
"Our extensive research reveals that as the real estate sector's growth continues to improve, the country will witness a supply of 138,000 residential units in 2010, 57 per cent more than the supply seen in 2009."
The affordable housing segment will offer business opportunities worth over Rs 5,00,000 crore (Rs 5 trillion) as India requires more than ten million houses to be built by 2013-14.
Weak absorption and rising inventories in the residential market in Mumbai may lead to price correction in the early part of 2014, real estate consultancy firm Knight Frank said.
In the first of its kind among property consultants, the UK-headquartered Knight Frank Group will launch a $250 million India-focused real estate fund.ICICI Prudential Mutual Fund recently launched its real estate securities fund, which is the first real estate mutual fund in India.
On the residential segment, there is a new thing opening up, and that is organised rental housing.
The real estate action is no longer limited to the large metropolises of India but has now permeated to the burgeoning smaller towns and cities.
From San Francisco to Sydney, find out how much--or little--property your dollar will fetch.
A forecast by this international real estate consultancy suggests that 'in Mumbai, rentals will fall for some more months and bottom out in the second half of next year, while in the national capital region, rents may bottom out in the second half of the current financial year in most areas.' In both metros, the correction in rents would be between 40 to 60 per cent by the first half of next year of their peaks in 2007-08.
Are you planning to buy a flat in the near future? If yes, then should you wait for another 6-9 months given the global meltdown in financial markets?
Mumbai and Bengaluru also featured among the list of top five global cites in terms of future rental growth.
While the inflation in real estate industry is unprecedented, the government has done a lot to check the incresing prices, says Gulam Zia.
A study of households with an annual income of Rs 3 lakh (Rs 300,000) to Rs 10 lakh (Rs 1 million) in seven cities shows substantial variations in the type of houses they can afford to buy.
Of this, nearly 80 per cent of demand is expected to come from the Rs 300,000-500,000 segment, it said. Over 32 per cent of potential buyers are looking at making purchases in the next 6-12 months. The highest requirement is from Mumbai and the NCR, which require 0.4 million units and 0.54 million units, respectively, with corresponding investment of Rs 64,700 crore (Rs 647 billion) and Rs 87,600 crore (Rs 876 billion).
On Sunday morning, the sun shone brightly on vintage cars parked in symmetry on the grounds of ITC Maurya in New Delhi. The owners were making sure the old beauties turned up spick and span for a rally organised by ITC Hotels in partnership with the Heritage Motoring Club of India. The rally would end at ITC Grand Bharat in Gurugram, Haryana, later in the day.
While tenants can't escape the impact of rising rentals entirely, they can adopt a few strategies to reduce the impact.
The rentals in central business districts (CBD) of New Delhi are likely to witness a 10-15 per cent rise by 2005 with the starting of the metro rail service, according to a real estate consulting firm.
The Reserve Bank of India's recent move will make home loans up to Rs 20 lakh cheaper. But that would be just good enough to buy you a house in Tier-II and Tier-III cities.
Analysts, however, suggest investors remain selective on realty stocks and buy only where there is revenue visibility and a credible promoter backing.
Indian prefer to buy expensive properties in Dubai.
Property sales have been sluggish and the sector has been facing headwinds. So, firms are in wait-and-watch mode.
Developers and consultants said even buyers have not been showing much enthusiasm in booking properties, due to high prices and the overall lacklustre economic environment.
While Mumbai is home to India's costliest real estate, Thane is the fastest growing housing market in the country
As India builds its data centre capabilities, it is imperative that it is supported by green energy. This is because data centres are guzzlers of energy.
Bidders have to deposit a security fee of Rs 25 crore as well as minimum guarantee fee.
Housing market in Mumbai Metropolitan Region recording worst half-yearly performance since global financial crisis in 2008 has worsened the situation for them
Realty firms and consultants hoped however that this would be the last round of monetary tightening by the central bank.
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The Companies Bill asked for promoting gender diversity by specifying induction of a minimum number of women directors
Reit as an investment vehicle has a huge opportunity as the country has a rent-yielding office inventory of 537 million square feet valued in excess of $70 billion.
Government officials be under confusion.
According to property consultancy firm Knight Frank, only 19 states and UTs have a functional portal in place, that too with a lot of information dissymmetry across data points
