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Property show announcement marks further Indian boom

19th June 2007 | back to article listings BACK    print this article PRINT

When any market booms, there are always those who wonder how long things can last and when the bust will come. Such pessimism is sometimes justified, but not always. Just as, for example, the UK economy has enjoyed a long period of economic growth without the boom and bust of the past, so there are many who will argue that many emerging economies around the world have a long period of growth ahead.

Of course, much of this oracle reading is speculative and subject to life's uncertainties, but there does appear to be a number of indicators that India, the second fastest growing economy in the world, is likely to see its property sector continue to expand, making investment a good bet.

Certainly a positive message will be part of the India Property Show 2007 in the USA and Canada. Already staged in Dubai, the North American version will seek to boost the market further with investment from the two G8 countries.

It will be the second year in a row such a show has taken place, with the announcement, made via the Cinemaya Media Group today, pencilling in dates for Canada, Ontario and New Jersey.

Of course, it is one thing to put on a show, but the proof comes with the response. It would be reasonable to say organisers were sufficiently encouraged by last year to re-run the event, but solid, major investment is the real evidence.

Such investment may indeed be on the way. A report in the Economic Times indicates that US global finance firm JPMorgan is currently in talks with Indian real estate firm Aparna Constructions & Estates with a view to investing $100 million in a property project in the country.

There are other factors to consider too. One is the impact of the recruitment of many professionals from overseas by Indian firms to aid their growth. Reporting on the case of Londoner Peter Akers and his wife Jane, the BBC noted this week that in the last few years between five and 15 per cent of managers hired by Indian firms were expatriates. Such a development may, of course, increase demand in the buy-to-let sector for these managers should they rent their homes rather than try to skirt round the red tape to buy. But it also suggests that Indian companies are successfully attracting the kind of expertise needed to ensure the growth of the economy is built on rock and not sand.

Mr Akers, who is learning Hindi to help integrate socially, told the BBC: "What we're doing here is difficult and not without its stresses, but it's all about growth." As long as that growth continues, the prospects for investors in property, whether in the commercial field as disposable incomes rise or the buy-to-let sector as the middle class grows, should continue to be good and attract more investment.

This is a press release by Assetz also available at http://press.assetz.co.uk/articles/3563.html. Alternatively, please see our full press release archive.

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