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Indian investment 'on agenda' for 2008

Wednesday, 2 January 2008 12:00 AM

India could emerge as a hot overseas property destination during 2008, according to online portal Homesgofast.com.

The site predicts the subcontinent could surpass the hotspots of 2007, which included Bulgaria and other eastern European nations.

"In 2008 India could surpass some of the eastern bloc investment hotspots, places like Bulgaria for example. Bulgaria has died down a lot; it was all the rage last year. It's almost like a fashion, and India is definitely on the agenda for next year," said Nicholas Marr, chief executive of Homesgofast.

One of India's key strengths, according to the organisation, is the country's strong 'exit strategy'.

India has two markets - in the shape of the local community who will want to buy property and the international community - which provide property owners with options when the time comes to sell.

"When you are trying to think about your exit strategy in property investment it is always nice to have two markets to sell to - a local market and an international market," continued Mr Marr.

"Somewhere like Mumbai (Bombay) or Delhi would attract both; an international market because it is cheap and the local community who are looking for new properties, so there is a good exit strategy there."

Both cities are already popular according to Mr Marr, who said: "People know about them. There are many off-plan opportunities there. The prices are good."

Finally, Delhi is set to host the 2010 Commonwealth games and the country is set to undergo even further development in preparation for this, presenting more investment opportunities.

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