Boston, MA -- (SBWire) -- 11/22/2013 --The year 2013 saw GDP growth in India drop to the lowest level in over a decade while some sectors, including manufacturing, plummeted to twenty year growth lows. Persistent structural issues ranging from the financial system to national infrastructure saw widespread capital flight in addition to record setting lows for the Indian Rupee against the dollar. Additionally, 2013 was an especially tense year for Indian- Pakistani relations, with cross-border skirmishes and reported cease-fire violations increasing in number from January-August. Despite these challenges, the commercial real estate market has thus far managed to avoid significant downturns, although demand, vacancy rates and rental stability in the short term remain a cause for concern. Nevertheless, BMI shares the consensus opinion that both economic performance and aggregate demand will improve into 2014, as investors begin to return to an Indian market which continues to display solid growth potential. Predictions of 4.5-5% growth through 2013 should increase to a minimum of 6% by 2014.
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Market Report, "India Real Estate Report Q4 2013", Published
New Business market report from Business Monitor International: "India Real Estate Report Q4 2013"