affordable housing in india looking like a good investment
News Posted On: 14 January 2011
Residential property prices in India fell by 25 to 30% from their previous highs in 2008 but have now recovered well.
While it is estimated that there is not much room for price increases in the high-end market, demand for affordable housing is far greater than availability, especially in the cities of Mumbai and New Delhi. This is because of the growing population in the cities and their increasing wealth which will lead to many of them becoming first time home owners.
Mumbai in particular is one of the most expensive cities in the entire country and there is a massive demand for housing which has led to a rise in rental demand and therefore rental income. India's mortgage market is still growing and lends conservatively although the increasing wealth of individuals may change this in time.
Further impetus for investors looking towards this country will come from a recent study by PricewaterhouseCoopers showing Mumbai and New Delhi as being among the top five destinations for investing in the Asia Pacific region. They also forecast that India will enjoy a GDP growth of 9 or 10% by 2015. This is quite impressive as the Asia-Pacific region has been particularly strong recently.
Other economists have forecast that growth this year will be 8.4%, rising to 8.7 is percent next year. The Indian government is also working hard to reduce its fiscal deficit. India's inclusion in BRICS is a further indication of its growing economic power as it is estimated India's growth rate will be higher than China's and will overtake Japan by 2032.
View residential property for sale in India
Back to news articles for this country
Latest Related News Articles in India
Hyderabad Set For Strong Growth during Latter Half of 2012
2012-05-03
According to local estate agents, the residential property market in Hyderabad in India is set to se.....
Outlook for Indian Property Is Good
2011-08-24
Demand for residential property in India is expected to remain high, even though the market is unlik.....
Information Technology and the Property Market in Bangalore
2011-07-08
The rapidly expanding information technology sectors in Bangalore are having a significant effect on.....
All Sectors of Indian Property Market set to Thrive
2011-05-11
It's estimated that the Indian economy will continue to grow at around 8% to 10% each year, and that.....
Property Prices in Mumbai Still Soaring
2011-04-15
Property prices for luxury homes in Mumbai have risen by almost 20% which is the second highest rate.....
Strong Growth Predicted in India Property Market
2011-02-04
A recent study into the Indian housing market forecast strong growth due to the country's rapid econ.....
Affordable Housing in India Looking like a Good Investment
2011-01-14
Residential property prices in India fell by 25 to 30% from their previous highs in 2008 but have no.....
India Property Investment on the Increase
2010-12-28
Soaring residential demand in india is triggering rising investment.....
Indian Economy Up 8pc Year on Year in Q2
2010-09-01
Indian GDP grew 8.8% in the second quarter of this year compared to last year.....
Indian Property Market Enters Growth Phase
2010-05-06
All the signs point to the next 5 years being a time of massive growth in the Indian property market.....