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<keyword id="24068881" type="General" weightage="100" keywordseo="Equity-investments-in-Indian-real-estate" source="keywords">Equity investments in Indian real estate</keyword> may rise 49% to $11 billion this calendar year amid strong demand for properties, according to CII and CBRE. In the 2023 calendar year, the equity investments in real estate stood at $7.4 billion. Industry body CII and real estate consultant CBRE on Wednesday released a joint report titled 'Leading the Charge: Crafting the Skylines of Tomorrow' at the annual CII Realty 2024 conclave. Equity capital inflows touched $8.9 billion between January and September, registering a 46% year-on-year growth. "Overall equity investments in 2024 in the real estate sector are set to hit a new record surpassing $10 billion for the first time," the report said. With a resurgence in investment inflows in built-up office assets and a strong acquisition pipeline for land in the residential sector, the overall equity investments in 2024 would be in the $10-11 billion range. During January-September, institutional and collective vehicle investors accounted for nearly 40% of the overall investments. Developer companies led the total capital inflows with more than 41% share in this period. Domestic investors (predominantly developers) invested nearly USD 6 billion during the first nine months of the calendar year, dominating the overall capital inflows with an almost 65% share. In comparison, foreign investors contributed about $3.1 billion during the same timeframe. Notably, North American and Singaporean investors were the significant contributors, representing about 85% of all foreign capital inflows. Anshuman Magazine, Chairman &amp; CEO, India, South-East Asia, Middle East &amp; Africa, CBRE, said, "Projection for 2024 equity investments between $10-11 billion, highest-ever, underscores continued investor interest in the growing <keyword id="23870227" type="General" weightage="20" keywordseo="real-estate-market-in-India" source="keywords">real estate market in India</keyword>." With SEBI's SM-REIT framework, he said, smaller but high-quality assets in Tier-II markets would also present new avenues for strategic capital deployment. "We believe this regulatory support will add much-needed transparency, enabling a more diversified investment base and encouraging institutional participation across these markets," Magazine said. Going ahead, he said this growing diversification will not only solidify India's real estate sector but also pave the way for future growth across emerging asset classes.

Equity investments in Indian real estate may rise 49% to record $11 billion this year, says CII-CBRE report

In Maharashtra’s Thane district, police have registered a case of alleged fraud involving two construction company owners accused of deceiving a family of ₹1.2 crore. The incident came to light after a 28-year-old woman from Thane’s Rabodi area lodged a complaint against the two accused, who are brothers. The accused allegedly persuaded the woman, her mother, and her sister to invest the substantial sum in their construction company based in Mumbai’s Bandra area. Promises were made of a significant payout within five years or, alternatively, the option of acquiring two or three apartments in the city’s prime real estate zone. According to the complaint, the woman’s family entered the deal on December 31, 2022, convinced by assurances of either a return of ₹3 crore over five years or property options in Bandra. To meet the required investment amount, the family borrowed funds from various sources, entrusting their money with the accused based on the lucrative promises. The police official handling the case noted that the family, enticed by the seemingly profitable terms, had not foreseen the outcome that would follow. In May 2023, however, when the family attempted to reclaim their funds and the anticipated profit, the accused allegedly declined the request. The complainant stated that the brothers not only refused to pay but also reportedly threatened the family, citing powerful connections that would shield them from legal repercussions. This behaviour alarmed the family, leading them to seek legal recourse. The Rabodi police have filed a case against the accused under various sections of the Indian Penal Code, including Section 420 for cheating, Section 406 for criminal breach of trust, and Section 506 for criminal intimidation. Additionally, charges were filed under Section 34, indicating common intention, along with relevant provisions of the Maharashtra Protection of Interest of Depositors Act. The case highlights the dangers that investors may face when lured by high-return promises in unregulated sectors. Fraudulent schemes in real estate and construction have been known to target individuals and families looking for profitable investments, often leaving them with financial losses and emotional distress. Authorities are continuing investigations, with the Rabodi police closely monitoring the case to gather further evidence. This incident is expected to bring more attention to regulatory practices within the real estate industry and underscore the need for stricter oversight to protect potential investors from falling prey to deceitful operators. (with PTI inputs)

Thane family loses Rs 1.2 crore as they get cheated by construction company, details here

The residential market shows a positive outlook, with 51% of stakeholders predicting higher sales over the next six months. However, a notable 24% expect stability, while 25% predict a potential decrease, reflecting a balanced yet cautious sentiment, as per a recent <keyword id="19895043" type="General" weightage="20" keywordseo="Knight-Frank" source="keywords" meta.keywordsubtype="org" meta.entityname="Knight Frank" meta.hostid="261" meta.entityid="Knight Frank">Knight Frank</keyword> report. The outlook for residential launches is also positive, with 61% expecting an increase, suggesting continued demand. A more tempered view is held by 20% of respondents who expect stability, and 19% foresee a decrease in launches. The Indian <keyword id="20152263" type="General" weightage="20" keywordseo="real-estate-sector" source="keywords">real estate sector</keyword> continues to reflect a positive outlook for the near future, though with a more cautious approach. In terms of pricing, 63% of stakeholders expect a rise, but 36% anticipate stable prices, and a very small minority predict a decline. G Hari Babu, National President, National Real Estate Development Council (<keyword id="20429653" type="General" weightage="20" keywordseo="naredco" source="keywords">NAREDCO</keyword>), said, "The residential and office markets continue to show notable activity, signaling ongoing growth and opportunity. Developers and other key stakeholders, including banks and financial institutions, are maintaining a positive outlook." He added, "This suggests that while there may be short-term challenges, the sector is well-positioned to adapt and thrive. The continued optimism and activity in the market highlight the sector's ability to sustain its momentum and drive forward, amidst changing conditions." The <keyword id="22822547" type="General" weightage="20" keywordseo="office-leasing-market" source="keywords">office leasing market</keyword> shows signs of strong recovery, with 63% of respondents predicting an increase in leasing activity, driven by positive business sentiments and <keyword id="21313740" type="General" weightage="20" keywordseo="economic-revival" source="keywords">economic revival</keyword>. However, 24% expect stability, and 13% foresee a decline. New office supply also remains a point of interest, with 47% expecting an increase, while 29% anticipate stability, and 24% forecast a decrease. Furthermore, 67% of stakeholders expect office rents to rise, signaling confidence in the market's ongoing growth, even as 27% anticipate stable rents and 7% expect a decrease. The <keyword id="20635920" type="General" weightage="20" keywordseo="future-sentiment-score" source="keywords">Future Sentiment Score</keyword>, which measures stakeholders' outlook over the next six months, saw adjustments across various regions. The North Zone score slightly decreased from 65 in Q1 2024 to 63 in Q2 2024, though it remains firmly optimistic. The South Zone witnessed a more significant drop from 76 to 65, signaling a moderated outlook. In the East Zone, the score fell from 77 to 65, largely influenced by the discontinuation of the 2% stamp duty cut. The West Zone also saw moderation, with the score dipping from 73 to 66, though it too, remains optimistic. The overall Developer Future Sentiment score decreased from 72 to 61, reflecting a more guarded approach. Developers, while cautious, continue to remain optimistic due to strong sales since early 2023. On the other hand, the Non-Developer Future Sentiment core, which includes financial institutions and PE funds, also moderated from 73 to 68. This shift indicates stakeholders' careful consideration of macroeconomic concerns. Optimism in India's broader economic scenario remains strong, with 59% of respondents expecting an improvement, reflecting confidence in the country's economic resilience. However, 24% foresee stability, and 17% predict a decline, underscoring global economic uncertainties. Meanwhile, 51% of respondents anticipate increased funding availability for real estate investments, reflecting continued confidence in the financial sector's support for the real estate market. Shishir Baijal, Chairman and Managing Director of Knight Frank India Pvt Ltd, noted, "As we transition through 2024, a host of factors are playing out globally. The global economic landscape shows resilience despite ongoing challenges. Inflation rates are gradually aligning with central bank targets, enabling a more supportive monetary policy. India, benefiting from stable post-election conditions, remains a strong growth beacon." He added, "Domestic consumption is robust, supported by consumer loans, though there are some signs of growth moderation. Food inflationary pressures persist, but are converging overall towards price stability targets. With a projected GDP growth rate of 7.2% for FY 2025, India's outlook remains positive. An effective monetary policy by the Reserve Bank of India has helped sustain growth with price stability, positioning India as one of the fastest-growing large economies globally." The Current Sentiment score, which reflects stakeholders' view of the market compared to six months ago, moderated from a decadal high of 72 in Q1 2024 to 65 in Q2 2024. This suggests a more measured outlook as stakeholders navigate evolving global economic conditions. Despite the dip, the score remains indicative of optimism. Looking forward, the Future Sentiment index also adjusted from 73 in Q1 2024 to 65 in Q2 2024, signaling a positive yet more conservative outlook for the near term. While macroeconomic uncertainties may dampen enthusiasm, stakeholders continue to show confidence in the sector's resilience and adaptability.

Despite budget provisions, residential housing market will see sales growth, notes recent report by Knight Frank

Dear reader, This week’s news roundup captures a mix of finance, technology, and career insights, spotlighting trends and timely advice. The <keyword id="19895040" type="General" weightage="20" keywordseo="Real-Estate" source="keywords">real estate</keyword> sector in India continues to reign supreme in investment portfolios, even as new financial opportunities emerge. Meanwhile, <keyword id="20019820" type="General" weightage="20" keywordseo="Job-Seekers" source="keywords">job seekers</keyword> are dealing with “ghosting,” a new twist in recruitment echoing modern dating. In tech, a damaged satellite shows how fragile internet infrastructure can disrupt connectivity, while an <keyword id="23685266" type="General" weightage="20" keywordseo="Amazon-Engineer" source="keywords">Amazon engineer</keyword> offers a firsthand roadmap to nailing technical interviews. Read on to know about the top stories of the week gone by. <h2>Real Estate continues to dominate India’s investment portfolios, shows <keyword id="23616651" type="General" weightage="20" keywordseo="FICCI-Report" source="keywords">FICCI report</keyword></h2> According to a FICCI report, real estate remains a favourite in Indian investment portfolios. High returns, capital appreciation, and stability make it a popular choice, even amid increased diversification. <a href="https://www.businessinsider.in/finance/news/real-estate-continues-to-dominate-indias-investment-portfolios-shows-ficci-report/articleshow/114368582.cms" data-type="tilCustomLink" target="_blank">Read more</a> <h2>Did you experience wonky broadband service recently? A broken satellite in space might have something to do with it! </h2> Broadband disruptions across various areas may stem from a broken satellite, highlighting vulnerabilities in space-based infrastructure. This issue underscores how satellite failures impact daily internet access. <a href="https://www.businessinsider.in/science/space/article/did-you-experience-wonky-broadband-service-recently-a-broken-satellite-in-space-might-have-something-to-do-with-it/articleshow/114535180.cms" data-type="tilCustomLink" target="_blank">Read more</a> <h2>Bhavish Aggarwal's <keyword id="19897349" type="General" weightage="100" keywordseo="Ola-Electric" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Electric" meta.hostid="261" meta.entityid="Ola Electric">OLA Electric</keyword> says it has resolved 99% customer complaints after receiving CCPA show cause notice </h2> Two-wheeler manufacturer Ola Electric announced that it has successfully addressed 99.1% of the 10,644 complaints raised by the Central Consumer Protection Authority (CCPA). This update came on the heels of a recent notice from the CCPA, which had accused the company of misleading advertisements, unfair trade practices, and potential consumer rights violations. <a href="https://www.businessinsider.in/business/news/bhavish-aggarwals-ola-electric-says-it-has-resolved-99-customer-complaints-after-receiving-ccpa-show-cause-notice/articleshow/114489333.cms" data-type="tilCustomLink" target="_blank">Read more</a> <h2>Job Hunting in 2024 has a modern dating element: Ghosting </h2> Job seekers in 2024 face an unexpected trend — “ghosting,” a phenomenon borrowed from dating. Recruiters and candidates alike are leaving communication abruptly, signalling changing norms in the hiring process. <a href="https://www.businessinsider.in/careers/news/job-hunting-in-2024-has-a-modern-dating-element-ghosting/articleshow/114454697.cms" data-type="tilCustomLink" target="_blank">Read more</a> <h2>I'm a software engineer at Amazon. Here's my step-by-step guide to nailing the <keyword id="23685264" type="General" weightage="20" keywordseo="Technical-Interview" source="keywords">technical interview</keyword> and breaking into tech </h2>An Amazon software engineer has shared tips for acing technical interviews. The guide includes key interview stages and actionable strategies for breaking into tech, providing valuable insights for job seekers. <a href="https://www.businessinsider.in/tech/news/im-a-software-engineer-at-amazon-heres-my-step-by-step-guide-to-nailing-the-technical-interview-and-breaking-into-tech-/articleshow/114430281.cms" data-type="tilCustomLink" target="_blank">Read more</a> <h2>Web stories</h2> <h2><a href="https://www.businessinsider.in/travel/international/webstories/most-famous-tourist-spots-in-brics-nations/slidelist/114543399.cms" data-type="tilCustomLink" target="_blank"></a></h2><a href="https://www.businessinsider.in/travel/international/webstories/most-famous-tourist-spots-in-brics-nations/slidelist/114543399.cms" data-type="tilCustomLink" target="_blank">Most famous tourist spots in BRICS nations</a> <a href="https://www.businessinsider.in/india/webstories/cyclones-that-shook-india-a-history-of-devastation/slidelist/114514841.cms" data-type="tilCustomLink" target="_blank">Cyclones that shook India</a> <a href="https://www.businessinsider.in/science/health/food/webstories/9-refreshing-drinks-that-reduce-high-blood-pressure-levels/slidelist/114426482.cms" data-type="tilCustomLink">9 refreshing drinks that reduce high blood pressure</a>

Weekend wrap: Real estate dominates India's investment portfolios, interview tips from Amazon employee and more

As Finance Minister Nirmala Sitharaman unveiled the Union <keyword id="19955368" type="General" weightage="20" keywordseo="budget-2024" source="keywords">Budget 2024</keyword>, all eyes were on the <keyword id="20024321" type="General" weightage="20" keywordseo="housing-sector" source="keywords">housing sector</keyword>, which has been a focal point for both developers and <keyword id="19907145" type="General" weightage="20" keywordseo="homebuyers" source="keywords">homebuyers</keyword>. Expectations were high for increased deduction limits on home loan interest repayments, higher principal repayment deductions, and more robust incentives for first-time homebuyers. Last year's budget focused on increasing <keyword id="20254620" type="General" weightage="20" keywordseo="affordable-housing" source="keywords">affordable housing</keyword> through the Pradhan Mantri Awas Yojana (<keyword id="19945794" type="General" weightage="20" keywordseo="PMAY" source="keywords">PMAY</keyword>), with a significant allocation to achieve the goal of "Housing for All." The <keyword id="20152263" type="General" weightage="20" keywordseo="real-estate-sector" source="keywords">real estate sector</keyword> had previously seen incentives for developers building affordable housing, such as tax holidays under Section 80IBA and increased allocation through the SWAMIH fund to improve liquidity for stressed projects. <h2>Major announcements in Budget 2024</h2>As per FM Sitharaman's 2024 Budget announcements, PMAY is set to add an additional 3 crore affordable housing — houses priced under Rs 40 lakh — in rural and urban sections of India. This will be accomplished with Rs 10 lakh crores, which includes assistance of Rs 2.2 lakh crores over the next five years. A provision of <keyword id="21240797" type="General" weightage="20" keywordseo="interest-subsidy" source="keywords">interest subsidy</keyword> to facilitate loans at affordable rates is also envisaged, the FM noted in her speech. “This is certainly pertinent – the affordable homes category has been seeing a decline in overall sales since the pandemic, to approximately 19% in H1 2024 from over 38% in the period before the pandemic in 2019,” notes Anuj Puri, Chairman of ANAROCK Group. “Consequently, this segment’s percentage share of the total housing supply in the top 7 cities also fell to 18% in H1 2024 from nearly 40% in 2019. Any boost to this vital segment is therefore welcome.” As per December 2023 reports, 65% of houses under PMAY-Urban had been completed and delivered to beneficiaries since the scheme was introduced in 2015. This amounts to over 78 lakh pucca houses out of the 1.18 crore sanctioned. The new addition to PMAY will thus attempt to more than triple the quadruple the number. <h2>Tax reliefs and transparent rental policies</h2>This year, the sector expected further <keyword id="20345361" type="General" weightage="20" keywordseo="tax-relief" source="keywords">tax relief</keyword> measures for homebuyers and developers. Key demands are aplenty, including increasing the deduction limit for home loan interest repayment from the current Rs 2 lakhs to Rs 3-4 lakhs for self-occupied properties, reintroducing tax exemptions for first-time homebuyers, standardising the definition of "Affordable Housing", and reducing GST on construction materials like cement and steel. However, there has been only disappointments on this front based on the announcements so far. However, in terms of the tax changes, the Budget has proposed a massive reduction in rental matters for the individual. While the current tax deducted at source (TDS) for Payment of rent by individuals or HUF under Section 194-IB stands at 5%, the new budget is set to bring this down to 2%, effective from October 1, 2024. <div type="Article" hostid="261" msid="111946291" title="Union Budget 2024-25 key highlights: Angel tax to be scraped" mstype="2" mssubtype="0"></div>Further, the government has promised to enable and implement policies and regulations for efficient and transparent <keyword id="20071228" type="General" weightage="20" keywordseo="rental-housing" source="keywords">rental housing</keyword> markets with enhanced availability. <h2>Additional initiatives</h2>Further, dormitory-style accommodations have also been announced for industrial workers in public-private partnership mode with Viability Gap Funding (VGF) support and commitment from anchor industries. VGF is a scheme that helps support important infrastructure projects that may not be financially viable, through grants that total up to 20% of the total project cost. The FM also announced that policies and regulations for efficient and transparent rental housing markets with enhanced availability will be put in place, to ease the rental and home-owning process. <div type="Article" hostid="261" msid="111953230" title="Union Budget 2024-25: Mobile Phones to get cheaper, as FM Nirmala Sitharaman reduces basic customs duty to 15%" mstype="2" mssubtype="0"></div>Markets are optimistic in the aftermath of these announcements, with many housing finance companies recording healthy gains since the speech. Puri notes that the renewed focus on rural and urban job creation, if effective, may provide some boost to affordable housing in even tier 2 and 3 cities. “The Finance Minister's allocation of ₹10 lakh crore to help 1 crore poor middle-class families buy houses will boost the demand for residential properties,” remarks Divyam Mour, Research Analyst at Samco Securities. ”This funding, along with interest subsidies, will greatly benefit real estate developers like DLF, Macrotech Developers, NBCC, and Sunteck Realty, as well as housing finance companies focused on the lower and middle classes, such as Aadhar Housing Finance, Aptus Value Housing Finance, and Aavas Financiers.”

Budget 2024: More affordable housing, lowered rent TDS — here’s what will change for the housing sector this year

After a steep nosedive in demand for office space rentals during 2020 and 2021, a new <keyword id="19955574" type="General" weightage="20" keywordseo="Colliers-report" source="keywords">Colliers report</keyword> has now noted that office rentals across six major <keyword id="20026638" type="General" weightage="20" keywordseo="Indian-cities" source="keywords">Indian cities</keyword> have finally rebounded to their <keyword id="20789690" type="General" weightage="20" keywordseo="pre-pandemic-levels" source="keywords">pre-pandemic levels</keyword> and even inched around 2-8% higher. While some cities like <keyword id="19900176" type="General" weightage="20" keywordseo="Hyderabad" source="keywords">Hyderabad</keyword> and Pune had already gone beyond their pre-pandemic rental levels as early as 2022, <keyword id="19895037" type="General" weightage="20" keywordseo="Bengaluru" source="keywords">Bengaluru</keyword> and Chennai had followed suit a year later in 2023. The last to join the bandwagon were <keyword id="19906633" type="General" weightage="20" keywordseo="Delhi-NCR" source="keywords">Delhi NCR</keyword> and Mumbai, which finally managed to breach their pre-pandemic levels in 2024. However, both Delhi and Mumbai recorded the highest jump in average rentals at 8% each, followed by Mumbai and Chennai, which saw hikes of about 5-6% during this period. The recovery in demand for office spaces, which kicked off in 2022, has stayed steady since. Arpit Mehrotra, Managing Director, Office Services, India, Colliers notes that going ahead, the annual increase in average quoted rentals at the end of 2024 is likely to be higher for certain cities like Delhi NCR and Pune, as compared to other markets. "Moreover, as demand scale-up in Indian <keyword id="20107243" type="General" weightage="20" keywordseo="commercial-real-estate" source="keywords">commercial real estate</keyword> solidifies, notwithstanding unforeseen events, annual space take up to the tune of 60 million sq ft is likely to be the new norm in the medium-term," he added. <h2>Prime location takes the cake</h2>Even within these cities, the growth of rental demand in certain micro-markets, which are located at prime locations, saw greater than the 2-8% average growth. For instance, in Delhi NCR, Gold Course Extension Road, Noida Expressway, and Cyber City saw up to a 25% rise in rentals. In Bengaluru, which saw around 2% <keyword id="22329786" type="General" weightage="20" keywordseo="rental-growth" source="keywords">rental growth</keyword> overall, Whitefield and ORR (Outer Ring Road) commanded a rental premium, with rents here surging by as much as 5-10% between 2019 and 2024. IOMR Zone 1 in Chennai and Bandra-Kurla Complex, Goregaon, and JVLR in Mumbai saw rents surge by around 10-20% from pre-pandemic levels between 2019 and 2024. In contrast, rental rates in Chennai and Mumbai grew at around 5% and 6%, respectively. In Hyderabad, SBD, or the Secondary Business District, which comprises of Gachibowli, Hitec City, and more, saw rentals surge between 5-10% between 2019 and 2024, as opposed to the 5% cumulative rental growth experienced by Hyderabad. In Pune, CBD and Kharadi saw rentals inch up by 5-10%, whereas the whole of Pune only saw their rentals grow by around 5% during the past 6 years. Mumbai and Delhi have also seen a dip in <keyword id="23656583" type="General" weightage="20" keywordseo="vacancy-levels" source="keywords">vacancy levels</keyword> since 2019. While this has dropped to 20% in Delhi at present, Mumbai ranks the lowest in terms of empty office spaces at 10.7%. In both these cities, demand for office spaces has consistently outpaced supply, which explains the low vacancies. In contrast, in Hyderabad, where supply continues to trump demand, current vacancy levels have gone as high as 25%. Going ahead, the Colliers report also estimates that average office rentals can witness up to 10% annual growth across key Indian cities by the end of this year.

Office rents across all major Indian cities surpass pre-pandemic levels in 2024, notes a new report

<ul class="summary-list"><li>The worst is behind the commercial real estate sector, according to Blackstone's Jon Gray.</li><li>The real estate vet thinks there's a huge opportunity for investors in the sector.</li></ul>The worst of the commercial real estate turmoil looks to be over, Blackstone president Jon Gray says.The private equity exec gave a cautiously optimistic outlook on the commercial property market at a recent event hosted by <a target="_blank" href="https://www.goldmansachs.com/insights/goldman-sachs-talks/blackstones-jon-gray-on-real-estate-rates-and-building-a-winning-company-culture">Goldman Sachs</a>. He says the tide may be turning, evident in a handful of signs flashing in the market similar to those that signaled a bottom in 2009, when the commercial real estate sector was beginning to rebound after the Great Financial Crisis."We said in January, publicly on earnings, that we thought commercial real estate was bottoming. And we've continued to believe that," Gray said. "We began to get those signals at the end of last year saying, look, the markets are recognizing inflation coming down. The Fed's starting to tilt toward a different area. As the cost of capital comes down in these sectors, we should go out there and get it."The state of the market mirrors 2009, when activity in the sector was just starting to pick up after the Great Financial Crisis, Gray said."And the problem for investors is they're often looking in the rearview mirror. So they're saying to themselves, 'Real estate, oh, I got all this troubled real estate. And I don't want to go back into that,'" he said. "But if you went back to 2009, the best investments in the cycle were then. You didn't get the all clear sign from everybody else till 2012."Blackstone has been busy "deploying capital" this year, he said, noting that the firm has been scooping up logistics assets in Europe like buildings involved in storing and transporting goods, as well as real estate in Asia."If you were an investor in real estate after the financial crisis, you would have made a lot of money. And my guess is, if you're an investor today, the same thing will happen," he added.

Commercial real estate is flashing signs that the worst of the distress is over, Blackstone president says

<ul class="summary-list"><li>Commercial real estate foreclosures spiked last month. </li><li>Foreclosures rose 48% year-over-year in September, according to data from ATTOM.</li></ul>Commercial real estate foreclosures jumped on a monthly and year-over-year basis in September, according to real estate data and analytics firm ATTOM. <a target="_blank" class="" href="https://www.attomdata.com/news/most-recent/september-2024-u-s-commercial-foreclosures/">Commercial foreclosures</a> rose 48% year-over-year in September. There were 695 foreclosures nationally, a report from ATTOM said. That's slightly lower than where commercial foreclosures peaked earlier this year, but marked a 15% increase from the prior month, the report said."Starting in June 2023, foreclosure numbers saw a sharp increase, peaking at 752 in May 2024, before settling at 695 in ATTOM's most recent data for September 2024. This recent surge suggests renewed financial stress or changes in commercial real estate dynamics," the firm said in a note this week.Commercial foreclosures saw the biggest year-over-year increase in California, with foreclosures on commercial buildings soaring 238% from the same time last year. In New York, foreclosures rose 48% year-over-year, while in Florida, foreclosures rose 49% year-over-year.The delinquency rate for commercial mortgages also rose slightly in the third quarter, with the percentage of loans that were 60-90 days late rising to 0.3%, and the percentage of loans that were at least 90 days late rising to 2.7%, according to the <a target="_blank" href="https://www.mba.org/news-and-research/newsroom/news/2024/10/22/commercial-and-multifamily-mortgage-delinquency-rates-increased-in-the-third-quarter-of-2024">Mortgage Bankers Association</a>. Outstanding loan balances that were less than 30 days late, meanwhile, fell slightly but remained elevated at 96.8%.<a target="_blank" href="https://fred.stlouisfed.org/series/COMREPUSQ159N">Commercial real estate prices</a> for the US dropped 9% year-per-year in the first quarter, according to International Monetary Fund data.Real estate experts have been warning of more <a target="_blank" class="" href="https://www.businessinsider.com/office-market-interest-rates-commercial-real-estate-federal-reserve-pandemic-2024-9">distress</a> to come for commercial real estate, particularly in the office segment. Demand for second-tier <a target="_blank" class="" href="https://www.businessinsider.com/commercial-real-estate-big-trouble-crash-bank-crisis-2024-2">office</a> buildings has fallen since the pandemic, leading some to forecast a <a target="_blank" href="https://www.businessinsider.com/commercial-real-estate-office-outlook-fire-sales-apartment-conversions-housing-2024-10">wave of forced sales and defaults</a> as debt continues to mature in the sector. Some property experts have speculated that the sale of unused office space could <a target="_blank" class="" href="https://www.businessinsider.com/commercial-real-estate-office-outlook-fire-sales-apartment-conversions-housing-2024-10">result in a wave of conversions to apartments</a>, solving an issue for office owners and helping to add supply to a constrained housing market. However, such overhauls are<a target="_blank" class="" href="https://www.businessinsider.com/how-nyc-office-buildings-towers-became-housing-2023-9"> difficult and costly</a> for landlords. Meanwhile, other more optimistic forecasts see a <a target="_blank" class="" href="https://www.businessinsider.com/investing-strategy-real-estate-stocks-bonds-portfolio-jpmorgan-asset-management-2024-10">rebound</a> coming for the commercial real estate market. A Moody's analysis found that transactions in the space had <a target="_blank" class="" href="https://www.businessinsider.com/commercial-real-estate-cre-debt-office-vacancy-bank-lending-moody-2024-9">already bottomed</a>, with sales volume rising for the first time in two years in September.

Commercial real estate foreclosures jumped almost 50% in September, report says

The <keyword id="20613906" type="General" weightage="100" keywordseo="Economic-Survey" source="keywords">Economic Survey</keyword> presented by <keyword id="20426375" type="General" weightage="20" keywordseo="Union-Finance-Minister-Nirmala-Sitharaman" source="keywords" meta.keywordsubtype="org" meta.entityname="Union Finance Minister Nirmala Sitharaman" meta.hostid="83" meta.entityid="Union Finance Minister Nirmala Sitharaman">Union Finance Minister Nirmala Sitharaman</keyword> has projected a <keyword id="19997196" type="General" weightage="20" keywordseo="growth-rate" source="keywords">growth rate</keyword> of 6.5 per cent and 7 per cent further solidifying <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s strong <keyword id="20018805" type="General" weightage="20" keywordseo="macroeconomic-fundamentals" source="keywords">macroeconomic fundamentals</keyword>, <keyword id="20060150" type="General" weightage="20" keywordseo="CBRE" source="keywords" meta.keywordsubtype="org" meta.entityname="CBRE" meta.hostid="83" meta.entityid="CBRE">CBRE</keyword> Chairman and CEO-India, South-East Asia, Middle East and Africa, <keyword id="20177586" type="General" weightage="20" keywordseo="Anshuman-Magazine" source="keywords" meta.keywordsubtype="org" meta.entityname="Anshuman Magazine" meta.hostid="83" meta.entityid="Anshuman Magazine">Anshuman Magazine</keyword> said on Monday. The country's economic performance in FY'24 surpassed expectations, registering a robust growth rate of 8.2 per cent. "This momentum is noteworthy considering three out of the past four quarters exceeded the 8 per cent growth mark," he said in his reaction to the Economic Survey. <keyword id="19895000" type="General" weightage="20" keywordseo="inflation" source="keywords">Inflation</keyword> is anticipated to moderate around 4.5 per cent and it reflects a 'well-balanced' economic environment, he said. "The survey acknowledges the <keyword id="20152263" type="General" weightage="20" keywordseo="real-estate-sector" source="keywords">real estate sector</keyword>, particularly the residential segment, as a significant driver of <keyword id="20018651" type="General" weightage="20" keywordseo="private-investment" source="keywords">private investment</keyword>. The survey emphasizes the importance of continued collaboration between central and state governments, along with the private sector, to sustain this momentum," Magazine said in a statement. India's post-pandemic recovery has been orderly and expansive and it is testament to the underlying resilience of the economy, he said. "Looking ahead to FY'25, several indicators such as robust private consumption, increased bank lending activity and improved corporate capital expenditure indicate towards a good year ahead," he added.

Economic Survey pegs growth at 6.5-7%; solidifying India's strong macroeconomic fundamentals: CBRE

New Delhi [India], June 13 (ANI): Mumbai and New Delhi are among cities in India that recorded a sharp annual increase in their <keyword id="6354553" type="General" weightage="100" keywordseo="real-estate" source="Orion">real estate</keyword> prices in the first quarter of 2024, according to a report by London-headquartered global property consultancy firm <keyword id="6363605" type="General" weightage="20" keywordseo="Knight-Frank" source="Orion">Knight Frank</keyword>. In case of Bengaluru, the average real estate prices witnessed a modest 4.8 per cent rise in prime residential or luxury homes during the January-March quarter of 2024. According to the report by the property consultant, titled '<keyword id="22041946" type="General" weightage="20" keywordseo="Prime-Global-Cities-Index-Q1-2024" source="Orion">Prime Global Cities Index Q1 2024</keyword>', Mumbai's significant rise on the international index was largely due to the rise in demand in the city. While the demand has been strong for all segments, there has been a rise in the sale of higher value products. Mumbai recorded the third highest year-on-year growth in prime residential prices in Q1-2024, pushing it up the ranking table by three places to 3rd position from its 6th position in Q1-2023. Delhi NCR rose from 17th rank in Q1-2023 to 5th in Q1-2024 with a growth of 10.5 per cent on a yearly basis. However, Bengaluru observed a slight decline in ranking from 16th place in Q1-2024 to 17th rank in Q1-2024, even while it recorded a 4.8 per cent yearly growth in residential prices. India's main cities, notably New Delhi and Mumbai, have witnessed a surge in house prices driven by robust economic growth, with annual GDP growth exceeding 8 per cent in the just concluded financial year 2023-24. Manila, the capital city of Philippines, claimed the top spot in the ranking with a 26.2 per cent annual rise in prices. The growth, as per the Knight Frank report, can be attributed to two key factors: purchasing power, and substantial infrastructure investments within and around the city. Tokyo in Japan jumped 17 places up with 12.5 per cent yearly price growth and ranked 2nd in the index. Despite Japan's overall population decline, Tokyo sustains a net population growth owing to migration from other regions within the country. Shishir Baijal, Chairman and Managing Director at Knight Frank India said, "The strong demand trend for residential properties has been a global phenomenon, led by gateway markets of Asia- Pacific and EMEA (Europe, Middle East, and Africa)." "Like its peers in these regions, the improved rankings of Mumbai and New Delhi on the Prime Global Cities Index was underscored by the resilience in sales growth volume. We expect the momentum of sales to remain stable over the next few quarters as the economic conditions are likely to remain broadly unchanged." The Prime Global Cities Index is a valuation-based index tracking the movement of prime residential prices across 44 cities worldwide. The index tracks nominal prices in local currency.

Mumbai, Delhi record real estate price appreciation in double digits; Ranked 3rd and 5th globally

<ul class="summary-list"><li>The growing ranks of boomers aged 65-plus could spark a boom in the senior housing market.</li><li>Demand for senior housing is expected to surge 50% by 2040, Capital Economics estimated.</li></ul>A big investment opportunity is brewing in one corner of the real estate market, thanks to a wave of <a target="_blank" class="" href="https://www.businessinsider.com/how-retirement-of-peak-boomers-could-affect-economy-social-security-2024-4">baby boomers</a> that are about to age into retirement, according to Capital Economics.The research firm pointed to the so-called "<a target="_blank" class="" href="https://www.businessinsider.com/what-will-happen-baby-boomer-homes-die-millennials-gen-z-2024-1">silver tsunami</a>," the moniker that's been given to describe the imminent surge of Americans over the age of 65 entering prime retirement age. It says this will drive strong demand for <a target="_blank" class="" href="https://www.businessinsider.com/cost-of-a-retirement-home-community-in-every-state-2019-7">senior housing</a> facilities, including assisted living, independent living, skilled nursing, and memory care.For real-estate investors faced with a prolonged slump in the <a target="_blank" class="" href="https://www.businessinsider.com/commercial-real-estate-office-debt-investing-outlook-blackstone-jon-gray-2024-11">commercial real estate</a> space, senior housing offers an enticing alternative, wrote Imogen Pattison, an assistant economist at Capital Economics."With an <a target="_blank" class="" href="https://www.businessinsider.com/baby-boomer-gen-z-millennials-economy-housing-job-market-stocks-2024-2">aging population</a>, senior housing has a clear long run structural demand driver pointing to further growth in the sector. Our analysis shows rent prospects appear strong on the back of undersupply and solid wage growth," Pattison wrote. "That makes senior housing a compelling option for investors looking to break away from traditional property investment."The 65-plus population is on track to grow 30% over the next 16 years, encompassing 80 million Americans by 2040, according to estimates from the US Census Bureau.<div type="image" title="Graph showing number of Americans over age of 65" height="964" width="1396" msid="115427149" hostid="261" sizebytes="21546"></div>Meanwhile, around 11% of those over the age of 65 are currently living in a form of senior housing, according to the American Senior Housing Association. Assuming that percentage holds steady, that implies demand for senior housing will grow 50% over the next 16 years, per Capital Economics' analysis, up from 6 million in 2023 to 9 million in 2040.Rents, meanwhile, are seeing a strong uptrend, thanks to the supply of senior housing growing tighter after the pandemic. The sector posted more than 5% year-per-year rent growth in 2023, nearly double its 20-year average, the firm added.<div type="image" title="Chart showing senior housing rent growth" height="1001" width="1413" msid="115427143" hostid="261" sizebytes="26652"></div>That puts the senior housing sector on track to see average annual returns of 13% for the next four years, the firm estimated. Yearly returns are also set to peak in 2026 at around 16%, it added, more than triple the 4.5% yearly growth expected in 2024."We expect continued tight supply to bolster rents over the next year or so," Pattison added. "Taken together, strong capital value growth and income returns mean the sector looks relatively attractive compared to the other real estate sectors."The <a target="_blank" class="" href="https://www.businessinsider.com/commercial-real-estate-office-outlook-fire-sales-apartment-conversions-housing-2024-10">commercial real estate</a> space has been challenged in recent years, with the demand for offices being weighed down by work-from-home trends while borrowing costs rise in the sector. That means the most troubled office buildings could see a wave of fire sales and conversions, potentially sparking steep losses for property owners, real estate experts told Business Insider.

A 'silver tsunami' of retirement-age baby boomers is creating a big opportunity for real-estate investors, research firm says

<ul class="summary-list"><li>Commercial real estate pain is sparking defaults in bonds backed by loans on high-quality properties.</li><li>Single-asset, single-borrower CMBS are typically seen as safe havens by bond investors. </li></ul>Pain in commercial real estate has spread to an even ultra-safe corner of the commercial mortgage market, with losses being seen for bonds backed by debt on the highest quality properties. Defaults on single-asset, single-borrower bonds — which are commercial mortgage-backed securities tied to a single, high-quality property —have skyrocketed over the past few years, according to Commercial Real Estate Finance Council data cited by the <a target="_blank" href="https://www.wsj.com/finance/investing/commercial-real-estate-mortgage-bond-defaults-eaa258bc?mod=finance_lead_story">Wall Street Journal</a>. The percentage of these bonds that were in or approaching default has climbed to 8.7% so far in 2024 — about three times the default rate recorded two years ago, the trade group said.That may come as a surprise to some investors, as single asset CMBS bonds are typically regarded as super-safe in the real estate world. Many are rated triple-A by the top rating agencies, with safety often seen on par with US Treasury bonds. The debt defaults have already sparked losses for some investors. Debt holders of a high-profile AAA-rated building in midtown Manhattan lost more than 25% of their original investment after selling the bonds at a hefty discount — the <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-05-23/cmbs-buyers-suffer-first-loss-on-aaa-debt-since-financial-crisis">first loss of its kind recorded</a> since the Great Financial Crisis, Bloomberg reported.Defaults could also continue to rise as a wave of debt comes due in the commercial real estate sector. Of the $260 billion of single-asset, single-borrower debt outstanding, $35 billion is approaching maturity this year, followed by $154 billion of maturing debt over the next three years, per <a target="_blank" class="" href="https://www.philadelphiafed.org/-/media/frbp/assets/working-papers/2023/wp23-27.pdf#:~:text=Philadelphia%20Fed%20working%20papers%20are%20free%20to%20download%20at&amp;text=Floating%2Drate%20SASB%20bonds%20have%20an%20effective%20maturity%20of%20less%20than%20one%20year.">Philadelphia Fed</a> data.The wall of maturing debt hints at a murky future for commercial real estate, where investors have been watching for signs of trouble since the pandemic. Work-from-home trends have pushed office vacancy rates to the highest level recorded, <a target="_blank" class="" href="https://www.businessinsider.com/real-estate-outlook-office-buildings-vacancies-commerical-markets-investors-remote-2024-1#:~:text=The%20national%20office%20vacancy%20rate,points%20higher%20than%20pre%2Dpandemic.">Moody's data</a> shows. Interest rates, meanwhile, look poised to stay <a target="_blank" class="" href="https://www.businessinsider.com/when-will-fed-cut-interest-rates-powell-fomc-inflation-relief-2024-4">higher for longer</a>, potentially sparking more distress as <a target="_blank" class="" href="https://www.businessinsider.com/commercial-real-estate-big-trouble-crash-bank-crisis-2024-2">$1 trillion of debt</a> in the overall commercial real estate sector approaches maturity by the end of this year.The cocktail of high rates and anemic demand could result in <a target="_blank" class="" href="https://www.businessinsider.com/commercial-real-estate-big-trouble-crash-bank-crisis-2024-2">more defaults</a> and forced selling by property owners at heavy discounts, some real estate experts say, with office buildings being a particular sore spot. About $52 billion, or third of all office loans packaged into bonds, was in or approaching default in March, according to Kroll Bond Rating Agency data cited by <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-05-03/a-third-of-office-mortgages-packed-into-bonds-are-at-risk-of-default">Bloomberg</a>.<a target="_blank" href="https://www.businessinsider.com/office-market-collapse-outlook-commercial-real-estate-foreclosures-default-debt-2024-4">Commercial real estate foreclosures</a> broadly spiked 117% year-over-year in the first quarter, according to data from property analytics firm ATTOM.

You Searched For "real estate sector ranking" and got 12 results

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