India's Red-Hot Property Market Defies Global Slowdown
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India's property market is outperforming despite global real estate facing severe headwinds like rising rates and weak demand.
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Factors driving India's property boom include rising middle class and incomes, government reforms, companies diversifying supply chains to India, and competitive advantages in office space.
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Residential sales and launches hit post-2008 highs in 2022, with a shift towards more premium units.
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Office leasing also reached its 2nd highest ever level, driven by IT and multinationals seeking innovation hubs.
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Retail is benefiting from consumption growth, with malls in Tier 2 cities and the launch of India's first retail REIT showing institutionalization.