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| India - the new El Dorado |
| Published on 11-09-2008 | Email To Friend Print Version
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In the last two years property values have gone up by 70% - economists predict it will rise to 700% by 2015.
The recent interest by British investors has fuelled the explosion of the real estate market in India, which coupled with a period of frenetic economic growth, yields the promise of high investment returns.
With the existing problems in the UK property market, many investors are now looking for a safer place to gain returns, and coupled with the fact that the whole economy in India is now on the rise - with little risk of a downturn - means that property values here are even more likely to continue on their upward climb.
According to world economists who are watching the property market in India very closely, it has been estimated that prices have risen by 70% in the last two years. Economists Merrill Lynch boldly predicts that prices will rise 700% by 2015 - and this is just one example of the optimism in expectations of what the “new El Dorado” will bring.
Meanwhile, the general business and investment environment in India is also improving, making it easier for foreign investors to do business there. Foreign investment interests are currently mainly concentrated in the Mumbai Property and New Delhi Property and prices therefore, are going up faster there than anywhere else. Both these cities are now on the “10 most expensive cities in the world” list. British Citizens moving to India have also increased investment in areas like Gurajat, Gurgaon, Bangalore, Chanigarh, Pune and Jaipur.
With the property market decline in the UK in the last 12 months and with predictions for it to decline even further, the trend to exploit “safer” property investment opportunities in India looks set to continue.
The Top Properties Team
September 2008 |
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