India Tops Prospective Asian Investment Hotspots
A poll taken by Sama Dubai (a Dubai real estate developer) at the MIPIM Asia expo in Hong Kong had the following interesting Asian property stats:
- The predicted potential growth prospects in India were the highest at 38 per cent due to a residential housing shortage of 60 million units & development of 4.3 million square metres of commercial property in the next 24 months. The hotspots cities identified were Chandigarh, Chennai and Kolkata.
- At second place was the GCC (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia & UAE) with an anticipated growth rate of 34 per cent
- Coming at the third place was China with an expected real estate growth rate of 28 per cent (and a forecasted economic growth of 9.9 per cent by the World Bank)
- Other strong growth prospects were in Hong Kong, Singapore, Korea, Malaysia and Taiwan
Asian countries currently attracting the highest foreign direct investment:
China – 35 per cent
India – 33 per cent
Japan – 12 per cent
GCC (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia & UAE) – 12 per cent
Australia – 6 per cent
Korea – 2 per cent
Top three key factors for international real estate investment decision making:
- Market conditions
- Micro and macro economic factors and
- Rental prospects
The commercial property price growth in Dubai from 2004 to 2006 was 200 per cent.
