Bangalore, Delhi and Mumbai most lucrative property investment destinations in 2015
As per a report published by PwC, the ranking of Bangalore, Delhi and Mumbai as a lucrative property investment destination has improved in comparison to last 2 years. Bangalore has climbed up to the 17th position, whereas Delhi and Mumbai have climbed up to 14th and 11th position respectively. In 2014, Bengaluru stood at 20th position with Delhi and Mumbai stood on 21st and 23rd position respectively. The improvement in the ranking of the three major cities mentioned above clearly indicates the improved investor sentiments in India.
The interest in commercial space is likely to increase in 2015. The surge in interest of investors can be a direct implication of – a) real estate global funds focused on India especially on residential projects, b) rise in the number of foreign institutional players, c) creation of smart cities focusing mainly on large-scale manufacturing, d) e-commerce picking up at a very quick pace leading to a high demand for large scale logistics and warehousing space.
In Mumbai, currently the occupancy rate is nearly 80%. The rentals and the property rates are expected to increase especially for posh and high-quality areas. In New Delhi, post the 2014 elections, the rates of commercial properties are now showing an upward trend. Bengaluru on is now witnessing increasing rents of business park facilities at a steady rate.
This year property investment in these three major cities may help you earn moolah but don’t expect too many new projects coming up since the focus this year will be on completing the ongoing projects rather than new project launches.