Singapore, US, and Canada Lead Indian Real Estate Investment Surge in 2024
January 10th, 2025 – CBRE South Asia Pvt. Ltd., a leading real estate consulting firm in India, has released its 'Market Monitor Q4 2024 – Investments' report. The report highlights that Singapore, the US, and Canada have dominated foreign equity investme
Real EstateForeign InvestmentsCbreMarket GrowthAsset ClassesReal Estate NewsJan 10, 2025
Ltd., India’s leading real estate consulting firm, has released its latest report, ‘Market Monitor Q4 2024 – Investments’.
The report reveals that Singapore, the United States, and Canada dominated foreign equity investments in India's real estate market in 2024.
These three countries collectively contributed more than 25% of the total equity investments in the country’s real estate sector in 2024.
Singapore accounted for approximately 36% of the total foreign equity investments in CY 2024, followed by the United States with around 29% and Canada with 22%.
Additionally, investments from the United Arab Emirates (UAE) saw a significant increase in 2024 compared to the previous year.
Total equity investment in Indian real estate reached an all-time high of US $11.4 billion in 2024, marking a 54% year-over-year (Y-o-Y) increase.
Domestic investments continued to be the primary driver, accounting for about 70% of the total equity investments in 2024.
This significant surge in investment inflows reflects the unprecedented growth of India’s real estate market in 2024, driven by a resurgence in capital deployment across built-up assets and sustained momentum in the acquisition of land/development sites.
Developers led the way in capital inflows, capturing around 44% of the total equity investments in 2024, followed by institutional players with 36%, corporations with 11%, REITs with 4%, and other categories comprising 5%.
In terms of asset classes, equity investments in 2024 were primarily driven by land/development sites, which accounted for approximately 39% of the total share.
The office sector followed with 32%, retail with 9%, residential with 8%, industrial and logistics (I&L) with 6%, hotels with 2%, and other segments comprising more than 4%.
Mumbai and Delhi-NCR were the top destinations for investment inflows in 2024, each accounting for around 25% of the total.
Bengaluru followed with 14%, Chennai with 8%, and Hyderabad with 6%.
During the October-December 2024 quarter, total equity investment in real estate stood at US $2.5 billion, representing an impressive 91% Y-o-Y growth.
This growth underscores the sustained investor confidence in India’s real estate market, driven by favorable economic conditions and strategic capital deployment across key sectors.
Anshuman Magazine, Chairman & CEO of India, South-East Asia, Middle East & Africa at CBRE, stated, “We expect to see sustained momentum in investment activity, particularly in built-up office assets and residential development sites.
The increasing focus on e-commerce and quick commerce is set to drive robust growth in the logistics and warehousing sector, creating new opportunities for both developers and investors.”
Gaurav Kumar, Managing Director of Capital Markets and Land at CBRE India, added, “We will continue to witness significant growth momentum in investment activity from both institutional investors and domestic developers.
This is being driven by a surge in real estate development activity, backed by healthy demand for office, residential, mixed-use, and industrial & logistics spaces.
Further, segments such as retail and hospitality are expected to experience renewed interest as the market continues to diversify and adapt to evolving consumer and business needs.”
Frequently Asked Questions
Which countries dominated foreign equity investments in India's real estate market in 2024?
Singapore, the United States, and Canada dominated foreign equity investments in India's real estate market in 2024, collectively contributing more than 25% of the total equity investments.
What was the total equity investment in Indian real estate in 2024?
Total equity investment in Indian real estate reached an all-time high of US $11.4 billion in 2024, marking a 54% year-over-year (Y-o-Y) increase.
What were the primary asset classes driving equity investments in 2024?
The primary asset classes driving equity investments in 2024 were land/development sites (39% of total share), the office sector (32%), retail (9%), residential (8%), industrial and logistics (6%), hotels (2%), and other segments (more than 4%).
Which cities were the top destinations for investment inflows in 2024?
Mumbai and Delhi-NCR were the top destinations for investment inflows in 2024, each accounting for around 25% of the total. Bengaluru followed with 14%, Chennai with 8%, and Hyderabad with 6%.
What are the expectations for future investment activity in India's real estate market?
CBRE expects sustained momentum in investment activity, particularly in built-up office assets and residential development sites. The logistics and warehousing sector is also anticipated to see robust growth, driven by the increasing focus on e-commerce and quick commerce.
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