The downfall in the Chinese property market will prove to be beneficial for India. Global real estate investment firms like Singapore’s Capitaland Investment, are looking out for possibilities of investment in countries like India and Vietnam. 1/3rd of Capitaland’s investment is made in China. As a matter of fact, the costs of houses have dwindled the fastest in the last 7 years in China. In October too, the sales of property in China reduced for the 15th month in a row. That is why, as per China’s National Bureau of Statistics, this year, till October, the real estate development investment in China fell by 8.8%.
In the meanwhile, a 22.3% downfall was recorded in the sales of commercial property and another 26.1% downfall was recorded in the sales of commercial buildings. On the other hand, the current statistics of the Indian property market are showcasing an opposite image to that of China’s. The RBI’s ‘All India Housing Price Index’ (HPI), hiked by 3.5% annually in the June quarter, and a 1.8% hike was seen in it as compared to the March quarter. It is being anticipated that the numbers for the September quarter will be even better.
