MUMBAI: India’s real estate sector is estimated to have received $1.2-billion (around Rs 7,200 crore) investments in 2013, down 65 per cent from the previous year’s $3.4 billion, according to a report by real estate consultancy Cushman and Wakefield.
India was the 10th most invested location in the Asia-Pacific region last year. The report, ‘Investment Market Beat-2013’, reveals that the APAC region received a record $487 billion in the real estate sector. Of the nations surveyed, China recorded the highest volume of investments of $358 billion, followed by Japan with $44.6 billion.
In India, investments in land suffered a decline of 61 per cent to $838 million, while investment in the office space saw a fall of 77 per cent at $247 million.
“We expect the economy in general and investment markets in specific to start seeing remarkable improvements by 2015,” said Sanjay Dutt, Executive Managing Director, South Asia.