Real estate investments in India surged to record high in 2022: Report

Business Friday 27/January/2023 21:14 PM
Real estate investments in India surged to record high in 2022: Report

New Delhi: Investments in Indian real estate grew 32 per cent on a yearly basis to an all-time high of $7.8 billion, data put out by leading real estate consulting firm CBRE South Asia Pvt. Ltd showed.

On a quarterly basis, investments stood at USD 2.3 billion in the October-December quarter, a quarterly increase of 64 per cent. On a year-on-year basis, they were 115 per cent higher during the December quarter. "Foreign investors took the lead with a 57 per cent share in the overall investment volume in 2022. Investors from Canada accounted for nearly 37 per cent of the foreign capital inflows, followed by those from the US (15 per cent)," the consulting firm said in a release.

Domestic investors contributed the remaining 40 per cent of the total investment in 2022. Delhi-NCR led investment activity, followed by Mumbai; cumulatively, the two cities accounted for about 56 per cent share of the investments in 2022.

"The record investment inflows, the highest ever for the sector, reflect the resilience and growth potential of the Indian real estate sector," said Anshuman Magazine, Chairman and CEO - India, South-East Asia, Middle East and Africa, CBRE.

"Undeterred by global headwinds, equity inflows into the sector are expected to remain steady in 2023," said Magazine.

Going ahead, capital flows are likely to remain steady. However, it said investors may also remain cautious amidst recessionary fears in the US and Europe.