Mumbai: Mumbai has emerged as the most attractive Indian city in the Asia Pacific region in terms of real estate investment potential, followed by Bengaluru and New Delhi, a report said on Monday.
Mumbai stood at the 13th rank, while Bengaluru and New Delhi grabbed the 16th and the 17th spots, respectively, in the list of 22 Asian markets having investment potential, a report by the Urban Land Institute (ULI) and PwC titled 'Emerging Trends in Real Estate Asia Pacific 2019' said.
In terms of development potential in 2019 as well, Mumbai was ranked ninth, while Bengaluru and New Delhi stood at the 14th and 13th positions, respectively.
"India continues to remain one of the most attractive investment destinations in the Asia Pacific region. With most of the other cities near the top of the cycle in terms of rent and capital values, India still offers value creation opportunities," said Bhairav Dalal, partner - real estate tax, PwC India.
He further said that core investments continue to remain the favourite with a few moving towards build-to-core. "Demand for buying and holding retail assets is certainly moving northwards. Logistics and co-working play continues to evolve rapidly, although some investors have expressed differential opinion over their sustainability," added Dalal.
According to the report, data centres and student housing are the new entrants in terms of alternatives. With India's first domestic REIT listing expected to come in 2019, Dalal said India will remain an important investment destination for real estate investors.
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