Mumbai and New Delhi have secured their spots among the top 10 cities in Asia-Pacific for cross-border real estate investment, according to CBRE’s 2025 Asia-Pacific Investor Intentions Survey.
Mumbai ranks 5th, following Tokyo, Sydney, Singapore, and Ho Chi Minh City, while New Delhi is tied for 8th place with Seoul, Osaka, and Hanoi. The survey highlights a significant rise in net buying intentions across the region, with over half of the respondents planning to increase real estate investments in 2025.
In India, foreign equity investments in real estate reached an all-time high of $11.4 billion in 2024, a 54% year-on-year increase. Singapore, the United States, and Canada accounted for more than 25% of these investments, with Singapore leading at 36%. UAE investments also saw notable growth compared to 2023.
The survey revealed that Indian investors are particularly focused on office spaces, residential developments, industrial properties, and data centers. “India’s real estate sector has gained significant global traction, with foreign equity and domestic investments driving growth across asset classes,” said Anshuman Magazine, CEO of CBRE for India, South-East Asia, Middle East, and Africa.
Mumbai and New Delhi remain prime targets for value-added and opportunistic strategies, including investments in core office buildings and land for residential and data center developments. Environmental, Social, and Governance (ESG) initiatives are a key focus, with 56% of investors prioritizing green building developments and 46% aiming to retrofit existing properties.
Across the Asia-Pacific region, Tokyo continues to be the top destination for cross-border investment for the sixth consecutive year. Sydney and Singapore also attract significant interest due to high returns and market stability. Meanwhile, industrial properties remain the most preferred asset class, followed by office spaces and data centers.
CBRE anticipates investment momentum to accelerate in 2025, driven by falling debt costs and asset repricing, despite persistent inflation concerns. According to Greg Hyland, CBRE’s Head of Capital Markets for Asia-Pacific, “REITs, institutional investors, and funds are focusing on core-plus and value-add opportunities to secure higher returns.”
With geopolitical concerns and sustainability gaining prominence, investors are also eyeing renewable energy generation and healthcare-related properties, such as life sciences and medical offices, as promising sectors for diversification.
India’s growing prominence in the global real estate market reflects its resilience and evolving investor confidence, positioning cities like Mumbai and New Delhi as key players in the APAC real estate landscape.
