Mumbai: Indian cities will not be preferred destinations for investments in real estate in 2013, according to audit and consulting firm PricewaterhouseCoopers and Urban Land Institute’s 7th annual Emerging Trends in Real Estate report.
add_main_imageBangalore, Mumbai, and New Delhi have slipped to 19, 20, and 21 positions in the list of 22 investment destinations covered by the report. The rankings are based on interviews with over 400 industry leaders.
In 2012, the three cities were at 10, 15, 12 positions, respectively. NextMAds
The report said that Mumbai is plagued by oversupply and that Bangalore is over-reliant on the sluggish global IT industry, translating into low growth potential.
According to the report, the top five real estate investment markets in 2013 will be Jakarta, Shanghai, Singapore, Sydney and Kuala Lumpur.
