Domestic as well as international investors are looking at newer cities with stable assets for investments, a trend that will be prominent in 2014, and accordingly Chennai jumps to the hot-list for the first time, says a PwC survey.
According to the survey, titled ‘Emerging trends in real estate in Asia Pacific 2014’, Chennai has for the first time emerged in the top 25 real estate destinations list in the Asia Pacific region.
“Cities like Bangalore, Delhi and Mumbai have been in the top 25 list as preferred destinations. This indicates that there has been a slight shift in investor interest from conventional assets in prime markets to newer and stable assets in niche markets,” PwC India executive director Gautam Mehra said on Tuesday.
While Bangalore ranked 20th in the list, Delhi stood at 21st, Chennai 22nd and Mumbai 23rd. Bangalore and Mumbai slipped from their positions compared to 2013 rankings where they stood at 19th and 20th, while Delhi maintained its ranking at 21st position.