Huge decline in foreign investment in real estate, only $11 million came in January-March: Report
[ad_1]
pattern photo
Creative Commons
According to a report released by global property advisory firm Vestian, foreign investors have invested only $11 million in the country’s real estate business in the first quarter of 2024. According to the report, institutional investment has declined by 55 percent year-on-year to $552 million in January-March. Which was 123.83 crore dollars last year.
New Delhi . Foreign investors remained cautious about real estate this year and invested only $11 million in the sector in the first quarter of 2024. Giving this information on Saturday, global property advisory firm Vestian said that institutional investment in the real estate sector declined by 55 percent year-on-year to $ 552 million in January-March. According to the report, there was investment of $ 123.83 million ($ 1.23 billion) in the real estate sector in the same period last year.
According to Vestian data, institutional inflows of foreign funds into the country’s real estate sector fell 99 per cent to just $11 million in the first quarter of 2024 from $791.4 million in the same period last year. Domestic investors invested $541.1 million in Indian real estate in January-March 2024, up 21 percent from $446.9 million in the same period last year. Vestian Chief Executive Officer (CEO) Srinivas Rao said domestic investors are bullish on India’s growth story and are continuing to invest in the real estate sector.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
other news
[ad_2]
Source link
