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Real Estate Markets in China and India Faces Challenges, Business and Industry Trends Analysis

A recent boom in Chinese new home and condominium construction had many analysts concerned about inflation in home prices, an overextended market and the potential for the bubble to burst.  There is a critical difference between the housing markets in major Chinese cities such as Beijing, Shanghai and Shenzhen and smaller, tier-two cities.  Large cities have seen significant growth in property prices.  Conversely, small cities elsewhere in China have seen tremendous numbers of newly constructed homes that sit empty.  Investors are often happy to own them in this condition, as real estate is seen as an investment with greater growth potential than bank deposits and less volatility than the stock market.  Speculators and individual investors have been prime drivers of the Chinese real estate market.
Meanwhile, official support of urbanization will remain a powerful force in China for decades to come.  Some 300 million people will move from rural areas to China’s cities from 2013 through 2030, creating intense demand for affordable housing.
Some builders are focusing on first time buyers and those of modest means by promoting tiny, affordable living spaces as small as 160 square feet.  With a bed that folds to provide seating and a miniscule tube of a shower next to the front door, costs are kept to modest levels more likely to be within the means of millions of young urban professionals.
In India, Prime Minister Narendra Modi promised to build smart cities.  The first effort is Gujarat International Finance Tec-City (GIFT), which began construction in 2012.  By early 2023, about 1 million square feet of commercial space was operational, with another 8.8 million square feet under construction, including approximately 2 million square feet of residential space.  Funding for these grand projects is to come in part from the government.


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