Institutional investment in housing sector up 71 percent in July-September quarter
Mumbai: Institutional investment in residential properties in the country increased by 71 percent to $298.3 million during the July-September quarter of the current calendar year. As stated in a report of real estate consultant Westian. Institutional investment in the housing sector stood at $174.3 million in the same period a year ago.
The Indian real estate sector received a total of $679.9 million in institutional investment in the third quarter of calendar year 2023, up 82 percent from $374.3 million in the same period last year. However, total institutional investment fell by 57 percent in the July-September period compared to the previous quarter, due to a significant drop in foreign fund inflows.
Institutional investment slowed down in the September quarter due to waning interest from foreign investors amid a challenging macroeconomic environment. Big companies are now calling their employees to their offices. Due to which the demand for office space in the country may increase. In such a situation, investment in real estate may increase in the next quarter. In the third quarter, the share of domestic investors in the total institutional investment has increased to 71 percent. At the same time, the share of foreign investors decreased from 55 percent to 27 percent in the same period last year.
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