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International Property Investment News
Anniversary boom for India
As India celebrates 60 years of independence from British rule, its thriving economic fortunes are set to spark a property boom.
With global financial commentators confident of India's rise to economic prominence, heavy corporate investment is stimulating stunning growth in the country's property market.
Nick Booker, managing director of Assetz India, commented on the nation's fantastic prospects:
"Property investment and property prices in India are booming. Before the Industrial Revolution, India had the largest economy in the world.
"Economic reforms, the IT revolution and access to investment capital has resulted in new opportunities for employment and rising standards of living."
He went on: "The transformation that has taken place in India over the last few years has been phenomenal. The economy is currently growing at nine to ten per cent per annum - the equivalent of doubling every seven years.
"As a result, an increasing number of property investors are looking to capitalise on India's emerging prosperity, with fast growing IT and retail sectors set to drive up the demand for more housing in a number of India's key cities."
Recent research from RREEF estimated that India's property market will grow by 160 per cent over the next five years.
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