India ’on the brink of property boom’

Market analysts are predicting a seven fold growth in Indian real estate value – from US$12 billion to $90 billion by 2015 – in the wake of the government’s decision to implement a 100 per cent relaxation of foreign direct investment regulations last year. 
Martin Bowen, UK Sales Director of Profile Europe (UK) Ltd said, “The residential property market is experiencing exponential growth right across India, but especially in urban areas and those close to the government’s new specialised industrial zones.
“Recent figures cited by the Bank of Baroda’s Chief Economist show properties have appreciated by as much as 60 per cent to 100 per cent over the last 12 months in most towns.”
The ratio of supply and demand is believed to be a key factor in the massive growth. Bowen continues, “There is a shortfall of some 20 million units, this is largely due to 55 per cent of India’s population being under 25 and the fact that the economy is booming and has resulted in a growing middle class, looking for quality accommodation because of growing disposable incomes.
“Add to this the growing mortgage market and declining interest rates which have made property more affordable despite actual property price increases.”
Profile Europe (UK) Ltd comes under the umbrella of the Profile Group, which was established in the UAE in early 2003 with interests in capital, investments, consulting, real estate developments, project management and real estate sales.
For more information visit: www.profileeurope.co.uk

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