Residential market remains resilient: Knight Frank

Residential market
Indian realty sector received an equity investment of $6,221 mn in 2019 with office segment receiving a sizeable 47% of the total.

Hyderabad: Despite wealth growth and record low interest rates in most advanced economies, the global economic slowdown has weighed on prime property prices across the globe. However, Indian cities such as Delhi has registered 4.7 per cent annual growth, followed by Bengaluru (2.1 per cent) while Mumbai saw a tepid growth of 0.5 per cent.

Shishir Baijal, CMD, Knight Frank India, said, “While prime property prices have stayed stable in the past five years, the relative stability of the Indian Rupee still allows investors and end users to buy more prime real estate in India today, compared to 2015.”

According to Wealth Report 2020 of Knight Frank, Indian real estate sector received an equity investment of $6,221 million in 2019 with the office segment receiving a sizeable 47 per cent of the total equi0ty investment. Properties made 20 per cent of the asset class for Indian ultra-high net-worth individuals (UHNWIs)

Property remains an attractive asset class for ultra-wealthy Indians, 24 per cent are planning to buy a new home in 2020. Preferred destinations outside India include the UK, the US, Australia, Singapore and United Arab Emirates.

Baijal adds, “Indian Ultra- High- Net-Worth Individuals are making changes to their investment preferences, be it impacting their lifestyle or their future wealth. Through the Knight Frank Attitudes Survey, we see the new aspect of ‘wellness’ as a prominent criterion for investing in real estate assets. To protect and grow their investments, office sector remains preferred asset class for private capital investors in India, along with healthcare, and education in second and third place, as investors continue pivot to alternative asset classes in the hunt for yield, return and diversification.”

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