Thu, 03 Jan 08
Seek Ngee Huat, president of GIC Real Estate, said his company is "trying to invest in
Mr Roeloffs said that his bank was impressed with the various aspects of the property boom that
Foreign investors have been ploughing money into Indian property in recent years and prices are shooting up all over the country. Most investment is restricted to the large urban centres such as Mumbai and
According to Reuters, the price of the average 100-square-metre Bangalore flat has risen by more than 50 per cent in two years and now stands at Â£50,000.
The news agency reports that "prime residential prices" in the major cities of Mumbai and New Delhi are now just 20 per cent lower than Shanghai and 40 per cent below those of Singapore and Hong Kong - seemingly a large gap but one that has narrowed considerably in recent years.
Increased funding for ‘Amazing
Part of the attraction for the overseas investor may be the holiday homes market. The Indian government recently relaxed rules regarding foreign investment and has also been engaged in a campaign to push the attractions of
Millions of pounds have been spent on the Amazing India campaign and the Indian tourist minister has recently pledged more money to promote package holiday trade.
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