Realty Check: Land Prices in Mumbai Appreciate the Most

BANGALORE: With rising competition for prime development sites across the world, developers, builders and investors are increasingly looking overseas for newer opportunities. As per the survey entitled ‘Prime Asia Development Land Index’ by Knight Frank, the performance and characteristics for each market can vary. The survey shows significant land price appreciation in developing Asian markets with more mixed results in developed Asia. So, let us have a look at the top 8 places on the land price ranking as listed by the survey.

Hong Kong: As seen during the past decade, Hong Kong’s manufacturing industry moved to the mainland and leads the country’s property prices to rise rapidly. The increase in the price is also due to credit expansion and tough housing supply conditions.

Consumer prices increased more than 4 percent in 2013. In the same year, the government there announced the decision to abolish the land sale by application system and took the full lead in putting up government sites for sale depending on the market condition. In 2014, government stated to increase land sales. Office and residential prices could go down slightly in 2014 due to the continual implementation of various properties market cooling policies an expected dip in the land prices is seen in the coming year.

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