indian property market enters growth phase
News Posted On: 06 May 2010
Investment in Indian property is once again on the rise and rightly so. India's population is putting increasing pressure on property stocks, and there just isn't enough supply to meet the demand. Anywhere that is industrialising or commercialising in any way is experiencing a growing demand for property to rent and to buy, and for the builders (fortunate as they are) it is like trying to stop a waterfall with a giant sieve.
Indian GDP grew by 5% last year according to sources, and this year is expected to be another strong year. The only country likely to see stronger growth in the next 5 years is China, but it is much easier for foreigners to invest in property in India than in China. As the economy grows so does affluence and in turn, demand for accommodation to buy and to rent.
During the last boom, Indian property prices grew at a rapid rate, if from a very low starting point. Prices surely suffered during the downturn as speculative foreigners fled for their financial lives, but price growth is expected to be strong in the coming years.
The commercial sector is also entering a phase of strong growth, with manufacturers increasing their stock levels, growth returning to the retail sectors and rents in the office sector once again on the bounce. All in all the future is bright for the Indian property market.
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