India emerged among the top five preferred markets in the Asia-Pacific and was included among a list of top markets in the region. Live Mint reported that this was recorded during the launch of the first Real Estate Investment Trust (REIT).
The tech hub of Bengaluru was especially noted as one of the top markets in the said category, specifically for cross-border investments.
Bengaluru was ranked with 10 other Asia-Pacific cities, according to CBRE South Asia Ltd, a leading consulting firm in the area.
Real estate investment in the city, according to them, reached about $1.6 billion in the fiscal year 2018-19. This represented a significant hike from about $800 million during the same period in the fiscal year 2017-18.
The interest in Indian real estate properties went up after the central government made a law regulating the Real Estate Investment Trust (REIT) in the city, which affected the transparency of the market.
India is included among the top five preferred markets in the Asia-Pacific after Embassy, a local property developer, and private equity firm Blackstone came together for the first REIT in March this year.
Bengaluru reached the prestigious ranking right after investments started flowing into the tech hub. According to Business Insider India, these investments were directed toward office assets, which was considered an improvement in investor awareness.
These were also likely to make quality buildings into fund-raising avenues for developers.
CBRE Chief Executive Anshuman Magazine said the city was helped by its global reputation. The tech hub became known worldwide as a hub for trans- and multi-national companies and employees.
The survey revealed a "greater interest" in office properties and the like, followed by different sectors related to industry and logistics.
Being a tech hub, it isn't surprising that Bengaluru also topped the survey for being one of the fastest growing cities in India. Tech hubs have a reputation for unparalleled growth.
Bengaluru was hailed as such owing to the presence of different world-renowned players in the sectors of biotech, IT, manufacturing, pharmaceuticals, and other sectors with bright growth.
India is a fast-growing economy, with investments pointed toward rising demand due to the widening consumption and growth in the logistics sector. With Bengaluru being a hub of research and innovation--leading to it being called a local 'Silicon Valley'--it is not surprising how this will attract different investors to be aware of many such opportunities in the Indian market.
