AGP Executive Report

Property Services: Tamil Nadu’s proposal to let private operators run five property-registration centres has drawn opposition over added charges of up to ₹10,630, with critics saying public offices should instead be upgraded. Housing Costs: In California, estimated monthly mortgage payments average $6,770 across six major metros, versus $2,929 in rent, widening the gap for would-be buyers. Cross-Border Investment: Indian buyers sent $528.7 million abroad for property in 2025–26, up 64%, as rental income, capital gains and residency options attract interest. Market Activity: Indian real estate investment reached $6.1 billion in January–September, with data centres accounting for 40%; separately, Abu Dhabi residential deals topped Dh21.5 billion in the third quarter. Australia: Foreign property investment has declined, while Victoria is easing its tax on overseas investors in a bid to revive demand.

Short-Term Rentals: Airbnb will bar hosts from requiring guests to strip beds, wash and put away dishes or take rubbish off-site for bookings made from Nov. 20. Logistics Real Estate: IKEA is opening a $40 million, 330,540-square-foot distribution centre in Richmond, B.C., its third in Canada, as it plans to expand its national footprint. Cross-Border Buyers: Indian overseas-property remittances rose 64% to $528.7 million in 2025-26, with buyers seeking rental income, capital gains and residency visas. Investment & Offices: India drew $6.1 billion in real-estate private-equity investment from January to September, with data centres attracting 40%; global capability centres are also boosting office demand. Asia-Pacific Markets: Korean buyers are turning to Japanese property for steady income as the yen weakens, while Abu Dhabi residential deals topped Dh21.5 billion in the third quarter.

Australia’s Foreign-Buyer Shift: Victoria plans to exempt eligible housing projects from its absentee-owner surcharge during construction, as foreign investment approvals fell to A$4.7 billion in 2025–26—nearly half the level two years earlier. Mumbai Market: Property registrations dropped 25% over Navratri to 4,680, while stamp-duty revenue fell 15%, Knight Frank reported. Climate-Resilient Buildings: Hongkong Land and Marsh say flood protections at a Shanghai development could cut expected rainfall-flood losses by 88% and storm-surge losses by 84%. India’s Capital Flows: Real estate private-equity investment reached US$6.1 billion in January–September, with data centres attracting 40%; overseas property remittances by Indian buyers also rose 64% to US$528.7 million in 2025–26.

Senior Housing: Optima Living and Axium Infrastructure bought eight Hamlets seniors’ communities in Alberta and British Columbia for more than $300 million, adding 1,092 suites to their portfolio. India Investment: Real-estate private equity investment reached $6.1 billion in the first nine months of 2026, with data centres drawing 40% of the total. Overseas property remittances by Indians also rose 64% to $529 million in 2025-26, as buyers seek rental income and residency options. Logistics Capital: Norway’s sovereign wealth fund and Ares launched a €1.5 billion European logistics investment partnership. Market Strains: China’s housing slump deepened, while Shanghai’s office vacancy rate reached 24.5%, the highest among 20 major cities tracked.

Hotel Investment: Asia-Pacific hotel deals climbed 50% to $12 billion in the first nine months of 2026, prompting JLL to raise its full-year forecast to $15 billion as investors target repositioning and regional-city opportunities. India’s Property Capital: Real estate private-equity investment reached $6.1 billion through September, with data centres attracting 40% of the total. Indians’ overseas property remittances also rose 64% to about $529 million in 2025-26, as buyers pursued rental income, capital gains and residency options. Evergrande Fallout: Liquidators plan an initial creditor payout in the first half of 2027, but recoveries are expected to amount to less than 1% of claims. Diplomatic Property: Kenya has paid £16.25 million for a 999-year lease on its London High Commission building, a move expected to save 103 million shillings in annual rent. Foreign Ownership Scrutiny: Thailand is tightening checks on foreign property holdings, with authorities considering forced sales as part of a broader crackdown.

Foreign Ownership: Thailand has ordered nationwide investigations into suspected nominee-held property, identifying more than 2,300 plots worth about 14 billion baht. Legal foreign condo ownership and approved investments remain permitted. Infrastructure & Land: Pune will compulsorily acquire the remaining 40 hectares for its proposed 1,216-hectare airport after some owners declined voluntary deals. Development: A General Dynamics subsidiary is set to anchor Stonington’s planned tech park, whose first phase includes 157,000 square feet of research and light-manufacturing space. In Gujarat, GAP Group and Hyatt have broken ground on a 200-room Hyatt Place in Dholera. Investment: Saudi developer Arada has entered the market with a reported $13.3 billion portfolio, while UDR and Apollo formed a $2 billion multifamily joint venture.

Housing Policy: Canada appointed Jennifer Keesmaat co-chair of its National Housing Council, alongside five new members with experience in affordable and Indigenous housing, finance and development. U.S. Development: Sandy Springs voted to begin land-sale talks for 5.5 acres earmarked for City Springs 2.0, the next phase of its downtown district. European Investment: Cross-border buyers made up 39% of European office investment so far in 2026, up from 36% last year, as capital moves across the region. Retail Property: PSP Investments and Nuveen launched a $790 million U.S. shopping-center venture, with 19 grocery-anchored properties already acquired across eight states. Egypt Housing: The government plans a four-year housing program that will add rental homes alongside social and middle-income housing.

Seoul Housing Costs: Apartment property taxes reached a record 3.3 trillion won, up 17% from last year, with nearly half the bill paid in the affluent Gangnam districts. Redevelopment Risks: More than 3,500 Jung-gu residents oppose a proposed UNESCO listing, fearing heritage reviews could delay projects near Seoul’s historic fortifications. Affordable Housing: Lawrence, Kansas, will pilot a program allowing nonprofits to take over and renovate some abandoned, tax-delinquent homes for affordable housing, with no city funding required. Foreign Land Ownership: Thailand is tightening scrutiny of suspected nominee arrangements, targeting land valued at about 14 billion baht allegedly held for foreign nationals. Property Investment: Primary Health Properties and Singapore’s GIC formed a £700 million joint venture covering 27 UK private hospitals, helping reduce the landlord’s debt. Market Pressures: Higher mortgage rates are weighing on home construction, while Shanghai’s office vacancy rate has climbed to 24.5%.

Industrial Property: U.S. industrial construction is rebounding, with 317 million square feet underway in the third quarter, up 28.7% year over year. JLL says data-center and advanced-manufacturing demand is driving larger, more power-intensive projects; speculative buildings over one million square feet nearly doubled in three months. Affordable Housing: A federal rule change removing the requirement for manufactured homes to have steel chassis could lower building costs and enable more multifamily projects, but about 30 states may need to update their regulations. Saudi Expansion: Arada plans a $3.8 billion Riyadh development and aims to build 100,000 homes in Saudi Arabia over the next three to five years, as the kingdom opens parts of its property market to foreign buyers. Household Costs: U.S. home insurance premiums have risen 45% in inflation-adjusted terms over a decade and now exceed property taxes in two-thirds of counties, adding pressure to housing affordability. Commercial Reuse: In Berlin, CityHub will turn vacant retail space into a 139-room hotel, offering landlords a way to repurpose underused floors.

China Housing: China’s economy grew 4.5% in the third quarter, but weak domestic demand and a prolonged property slump remain serious strains; slowing home sales are also testing market reforms. Industrial Property: Durban’s Shree Property bought two South Durban sites and plans to invest R1.6 billion in about 80,000 square metres of logistics warehousing near the port. Retail Investment: Australian retail property transactions hit a record $16.3 billion in the year to September, with Queensland leading at $6.2 billion. Vietnam Launch: More than 400 prospective buyers joined the first sales ballot for Ho Chi Minh City’s Phu My Hung Triton Crown; over 80% said they planned to live in or operate a business from their units. Development Costs: Higher construction costs are reshaping real estate viability and capital planning worldwide, putting pressure on developers to reassess projects.

Dubai Development: SAMANA launched premium brand COLLECTA with a planned AED 4 billion World Islands project featuring 840 residences, floating villas and tree villas. Dubai real estate investment reached $185 billion in 2025, according to a new report. India’s Luxury Shift: Wealthy buyers are looking beyond major cities to managed villas and wellness-focused retreats, as developers target destinations such as Shimla and Goa. Foreign Ownership: Thailand is threatening forced sales of about $420 million in land held through proxies as it tightens rules on foreign ownership; Saudi Arabia has opened its property market to foreign buyers. Office Leasing: Sopra Steria signed a 15-year lease for 474,000 square feet in Noida, with rent payments totaling ₹816 crore. Housing and Migration: California saw the country’s biggest net loss of Gen Z adults in 2024, with about 58,000 leaving; Texas was the leading destination, amid high living costs. Market Conditions: Athens home prices are stretching beyond the reach of many Greek buyers, while Japan’s property market faces investor caution as rates rise and foreign-buyer rules tighten.

China’s Property Slump: China’s economy grew 4.5% in the third quarter, but property investment fell 20.6% in the first nine months, underscoring the housing downturn’s drag on growth. Fiji Development: RB Patel is investing $25 million in a seven-storey, 21-apartment complex in Suva, with construction expected to take 15 months. Dubai Investment: Real estate investments in Dubai reached $185 billion in 2025, while Sharjah reported a surge in investor interest. Data Centre Pushback: Goodman faces local opposition to a planned campus near Tokyo after dropping a Sydney proposal, highlighting the permitting and community challenges facing data-centre developers. Foreign Buyers: Saudi Arabia has opened property ownership to foreign buyers, a significant change for overseas investors, including the large Indian expatriate community.

Resort Safety: A fire at a wooden-and-bamboo resort in Bangladesh killed at least 10 people, prompting calls for stronger safety rules and oversight across tourism properties. Housing Finance: Greater Manchester councillors plan to investigate £55 million in loans to companies tied to Manchester City’s Abu Dhabi owner for a housing development; the authority says the loans were repaid. Office Demand: India’s occupied office space grew 7% year over year to 917.7 million square feet, with Bengaluru leading and Pune passing 100 million square feet. Investment and Access: Dubai’s IREIS returns as reported property transactions top $48 billion, while the UAE is offering 10-year residency to some property buyers. Saudi Arabia has also opened its property market to foreign buyers. Market Pressures: Investor caution is rising in Japan as interest rates climb and foreign-buyer rules tighten. In Athens, soaring home prices are putting ownership further out of reach for Greek buyers; foreign purchases in Spain have also dropped sharply.**

China’s Property Slump: A commentary argues the weak renminbi and China’s widening trade surplus reflect falling domestic demand after a deep real-estate downturn; currency gains alone would not fix the imbalance. Housing Affordability: Namibia’s average house price reached about N$1.44 million, while roughly three-quarters of workers earn under N$5,000 a month, putting homeownership further out of reach for young buyers. Foreign Buyers: Saudi Arabia is opening its property market to foreign buyers, a change with potential implications for Indian expatriates and other overseas investors. India’s Market: Hyderabad property registrations fell 15% year over year in September to 5,620, with transaction value down 7%. Investment and Expansion: DLF bought 7.5 acres in Gurugram to grow its housing business, while Zara billionaire Amancio Ortega agreed to buy a Chicago office tower for $550 million.

Foreign Ownership: Saudi Arabia has opened property ownership to non-citizens, including expatriates, but residency rules, restricted areas and other conditions limit who can buy. India Market: Hyderabad property registrations fell 15% year over year in September, while the value of transactions dropped 7%. Investment Flows: Real estate attracted $85.5 billion in institutional capital, while investment sales hit a record $47.52 billion in the third quarter. Cross-Border Buyers: Foreign purchases in Spain saw their sharpest decline since 2020 as prices continued to climb. Healthcare Real Estate: India may need an additional 2.6 billion square feet of healthcare property by 2035, according to CBRE.

Short-Term Rentals: Cape Town’s proposed Airbnb by-law could reshape investor returns, buyer demand and property prices by adding registration requirements for some short-term lets. South African Housing: Wealth is shifting from Johannesburg to Cape Town: the city lost about a third of its dollar millionaires from 2015 to 2025, while Cape Town’s wealthy population grew 33%. India Investment: Institutional real estate has attracted $85.5 billion since 2011, with capital moving toward income-producing commercial and industrial assets. Healthcare demand is another growth driver, with India expected to need 2.6 billion square feet of additional space by 2035. Market Pulse: Hyderabad home registrations were broadly stable in January–September, but September volumes fell 15% year on year; homes above ₹1 crore made up 56% of that month’s transaction value. Bengaluru office leasing dropped 26% in the first nine months, while leasing across eight major Indian cities held steady. Capital Costs: Higher borrowing costs could make housing less affordable and weaken the cheap-credit boost that helped drive home buying and property values.