According to consultants Jones Lang LaSalle, Property investment in Asia reached a record $121 billion in 2007 up 27 % from the previous year.
And while the credit crunch took its toll in Europe and North America in the second half of the year, pushing down global transaction value by 8 % from the second half of 2007, investment in Asia surged 22% in the last six months.
Data from Jones Lang LaSalle shows transaction volumes globally in the first five months of 2008 were 40% lower than in the same period last year, dragged down by weaker activity in Europe and the United States.
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FDI is a means to supplement domestic investment for achieving higher level of economic development and providing opportunities for technological upgradation as well as access to global managerial skills and practices. With India allowing FDI up to 100% in many sectors, power, petroleum and natural gas, services, construction and real estate have emerged as the preferred destinations for foreign investors, who have pumped in $20.8 billion in these areas in the last four years. The real estate sector which was thrown open in 2004-05 saw FDI picking up slowly in the initial two years, but grew substantially in 2007-08 to $2.17 billion. The government has eased FDI norms for a host of sectors, but has kept areas such as retail, (except single brand retailing), atomic energy, lottery, gambling and betting, business of chit fund and trading in Transferable Development Rights (TDRs) out of the ambit of foreign investors.It had allowed 100% FDI in sectors such as titanium mining, maintenance, repair and overhauling facilities for aircraft.For more view- realtydigest.blogspot.com
Property investment in Asia reached a record $121 billion in 2007, according to consultants Jones Lang LaSalle, up 27 percent from the previous year.
And while the credit crunch took its toll in Europe and North America in the second half of the year, pushing down global transaction value by 8 percent from the second half of 2007, investment in Asia surged 22 percent in the last six months.