ASIA: In the ‘2023 Asia Pacific Investor Intentions Survey,’ Tokyo topped the list of target markets for cross-border investment for the fourth consecutive year, followed by Singapore, which came in second.
According to property consultant CBRE India, Mumbai ranks seventh in the Asia Pacific as a preferred destination for cross-border real estate investments. “Mumbai is ranked seventh among the ten APAC cities and has emerged as a preferred destination for cross-border investment in the region,” the report stated.
On the list, Mumbai is ranked first, followed by Shanghai (ranked eighth), Hanoi (ranked ninth), and Seoul (ranked tenth). No other Indian city had featured in the list in the last two years.
The survey polled over 530 Asia Pacific-based investors, including developers, private investors, and REITs, as well as institutions such as insurance companies, pension funds, and sovereign wealth funds, and asked respondents a variety of questions about their purchasing appetite and preferred real estate strategies, sectors, and markets for 2023.
According to CBRE, long-term investors looking to increase their real estate exposure in the world’s two largest emerging economies continue to focus on Mumbai and Shanghai.
“Throughout 2022, the Indian real estate sector has remained resilient.
Despite the difficulties, businesses have viewed India as an appealing, resilient, and cost-effective investment destination “CBRE’s Chairman & CEO – India, South-East Asia, Middle East & Africa, Anshuman Magazine, stated.
“Real estate investment activity reached an all-time high in 2022, with Mumbai and Delhi-NCR accounting for 56% of total investments. We anticipate that capital flows will remain stable in 2023 “According to the magazine.