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Not just an Indian summer for investors |
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Contributed by Jim Barnaby
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Thursday, 01 May 2008 |
When it comes to investing in property overseas, a number of emerging markets have caught the eye in recent years. Some have been eastern European markets, which some have embraced while others have said are subject to deep uncertainty.
When it comes to investing in property overseas, a number of emerging markets have caught the eye in recent years. Some have been eastern European markets, which some have embraced while others have said are subject to deep uncertainty. Others have looked at the booming small island destinations such as Cyprus and Cape Verde, where sunshine tourism has been a major growth driver, not least in the latter case as new airports and new services to them have emerged.
India, of course, is of a different order altogether. Up to a point, it could be said to be a known quantity, given its historical links with Britain and the advantage of being the largest democracy in the world (one which may prompt ethically-minded investors to prefer it to China). But it is not so much what is historically or culturally true about India as the excitement of where this vast country and its economy is going that can interest property buyers.
The levels of economic growth are well-enough known. Property site in2perspective.com noted today that the latest Sunday Times and Forbes rich lists were dotted with an increasing number of super-rich Indians. Lakshmi Mittal, who these days resides in Britain, is the best known and the richest, but the website also notes that the Forbes rich list includes four Indians in the top ten and 53 billionaires overall, third behind the USA and Russia. Forbes added the prediction that India will top the billionaires poll in 2017.
In all this the point being made is that India is growing fast. Such growth can mean a Indian commercial property boom, but also a residential one, not just in top-end luxury pads for the nouveau riche but also the growing middle class.
Confidence in India's real estate market is such that RREEF, Deutsche Bank's alternative investment manager, has revealed plans to invest over 1$ billion (£501 million) into real estate and infrastructure, the latter being the means of supporting the former as growth requires more in the way of transport links and power. "We think India will be an attractive emerging real estate and infrastructure market for our clients,'' Kurt Roeloffs, RREEF's regional chief executive told Bloomberg today.
RREEF has acted fast, for already it has tied up a $400 million mixed-use scheme in Hyderabad, Property Week reports.
While such investment is necessarily a sign of big business involvement, it is also the kind of thing which promises to keep the Indian economy booming. For smaller investors, the key is to watch how property prices are going, not least in cities where new business investment and infrastructure advancement is taking place. There could be rich pickings to be had in India for longer than just a summer.
In today's world Property investment is an excellent investment option especially investment in UK
Author Bio: Jim Barnaby is a real estate investment broker and successful property investment adviser delivering research and selected UK and overseas property investment solutions with experience in spanish properties, french property investment, German property, Cyprus holiday homes, Property in Cape Verde, German property investment, cape verde property buy to let property |
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