IntelligentInvestment

IndiaMarketMonitorQ42025

Investments

REPORTCBRERESEARCHJanuary2026

Investments

EquityinflowsintoIndia'srealestatemarketreachedanall-timehighofoverUSD14billionin2025.The

October–December(Q4)quarteralsorecordeda

significantsurgeininvestmentactivitycomparedtothesameperiodinthepreviousyear.Thiswasprimarily

drivenbycontinuedmomentuminland/developmentsiteacquisitions,followedbybuilt-upoficeand

warehousingassets.Developersaccountedforalmosthalfoftheseinflowsduringthequarter,followedby

institutionalinvestors.

1CBRERESEARCH|IndiaMarketMonitorQ42025?2026CBRE,INC.

MarketPerformanceinQ42025

IndiaMarketMonitorINVESTMENTS

USD

3.3billion

CapitalflowsinQ42025,up~30%Y-o-Y

ininvestmentinflowsinQ42025.

USD

lils~4Iv~siillelowedwith

14.3billion

~80%

Domesticinvestors

(predominantly

developers)dominatedoverallinvestment

inflowsinQ42025withan

Institutionalinvestors

fromCanadaandtheU.S.accountedfor52%and26%offoreigncapital

inflows,respectively,duringthequarter.

CapitalflowsinCY2025,up~25%Y-o-Y

EquityinvestmentsinIndianrealestateovertheyears

USDbillion

16

14

12

10

8

6

4

2

0

14.3

11.4

7.88.65.9

20212022202320242025

Source:CBREResearch,Q42025

Land/developmentsitesandbuilt-upoficeandwarehousingassetscollectivelyattracted~82%ofoverallequityinvestmentflowsinQ42025.

share.

Asset-wiseshareofequityinvestmentsinQ42025

5%

5%

~78%

8%

ofthetotalcapitalinflowsinsite/landacquisitionsweredeployedforresidentialandofice

developments.Theremainingwascommittedtomixed-use,warehousing,andretailprojects.

45%

13%

ION0

Investment

anddevelopmentplatformsworth

weresetupinQ42025acrosstheoficeandresidentialsectors,inadditiontothecapitalinfusionofUSD3.3billionduringthequarter.

24%

Ofice

Hotels

I&L

Others*

Site/Land

Residential

Note:Pleasenotethatthedatapresentedinthisreportwascompiledatthetimeofreportgenerationandmayberevisedinsubsequentquartersasmoreinformationbecomesavailable.Therefore,thedatashouldbeconsideredasprovisionalandsubjecttoongoingrefinement.

*Othersinclude:Hospitals,co-living,etc.Source:CBREResearch,Q42025

Hyderabad,followed

byDelhi-NCRand

Bengaluru,accounted

foracumulativeshareof

~55%

2CBRERESEARCH|IndiaMarketMonitorQ42025?2026CBRE,INC.

3CBRERESEARCH|IndiaMarketMonitorQ42025?2026CBRE,INC.

ok

India’srealestateinvestmentlandscapeisprojectedtosustainstrongmomentumthrough2026,

underpinnedbysteadycapitalinflowstoacquirebuilt-upassetsanddevelopnewprojects.

Greenfieldactivityisexpectedtoremainresilient,withnotabletractionlikelyacrossresidential,ofice,mixed-use,aswellaswarehousinganddatacentre(DC)developments.Opportunistic

strategies—particularlyinoficeandmixed-usesegments—areexpectedtogainprominenceamidstthelimitedavailabilityofcoreassets.

Sincethelatterhalfof2025,India’sREITandSM

REITmarketshavewitnessedincreasedactivity,

underlinedbythesuccessfullistingsofthefourthoficeREITandthesecondSMREIT.This

momentumisanticipatedtocontinue,supportedbySEBI’sproactiveefortstodeepentheinvestorbase.

Contacts

RESEARCH

AbhinavJoshi

HeadofResearch,India,MiddleEastandNorthAfrica

abhinav.joshi@cbre.co.in

RajorshiSanyal

SeniorGeneralManager

rajorshi.sanyal@

VidhiDheri

Director,NationalOperationsvidhi.dheri@cbre.co.in

MainakKarmakar

AssistantGeneralManager

mainak.karmakar@

UttareshVenkateshwaranGeneralManager

uttaresh.ventakeshwaran@

BUSINESSLINESFOLLOWUS

VamshiNakirekanti

SeniorExecutiveDirector,

Head–ValuationandAdvisoryServices,India&SouthEastAsiavamshi.krishna@cbre.co.in

GeetikaArora

SeniorDirector,CapitalMarkets,Indiageetika.arora@cbre.co.in

DivyaGoyal

ExecutiveDirector

Head-InvestmentRiskMonitoring,Indiadivya.goyal@cbre.co.in

SaurabhKhare

Head,NationalOperations,

Valuations&AdvisoryServices

saurabh.khare@

CBREResearch

ThisreportwaspreparedbytheCBREIndiaResearchTeam,whichformspartofCBREResearch—anetworkofpreeminentresearcherswhocollaboratetoproviderealestatemarketresearchandeconometricforecastingtorealestate.

Allmaterialspresentedinthisreport,unlessspecificallyindicatedotherwise,isundercopyrightandproprietarytoCBRE.Informationcontainedherein,includingprojections,hasbeenobtainedfrommaterialsandsourcesbelievedtobereliableatthedateofpublication.Whilewedonotdoubtitsaccuracy,wehavenotverifieditandmakenoguarantee,warrantyorrepresentationaboutit.Readersareresponsibleforindependentlyassessingtherelevance,accuracy,completenessandcurrencyoftheinformationofthispublication.ThisreportispresentedforinformationpurposesonlyexclusivelyforCBREclientsandprofessionals,andisnottobeusedorconsideredasanoferorthesolicitationofanofertosellorbuyorsubscribeforsecuritiesorotherfinancialinstruments.Allrightstothematerialarereservedandnoneofthematerial,noritscontent,noranycopyofit,maybealteredinanyway,transmittedto,copiedordistributedtoanyotherpartywithoutpriorexpresswrittenpermissionofCBRE.AnyunauthorizedpublicationorredistributionofCBREresearchreportsisprohibited.CBREwillnotbeliableforanyloss,damage,costorexpenseincurredorarisingbyreasonofanypersonusingorrelyingoninformationinthispublication.

TolearnmoreaboutCBREResearch,ortoaccessadditionalresearchreports,pleasevisittheGlobalResearchGatewayat

/research-and-reports

CIN-U74140DL1999PTC100244

ThisreportwaspreparedbytheCBREIndiaResearchTeam,whichformspartofCBREResearch—anetworkofpreeminentresearcherswhocollaboratetoproviderealestatemarketresearchandeconometricforecastingtorealestate.

Allmaterialspresentedinthisreport,unlessspecificallyindicatedotherwise,isundercopyrightandproprietarytoCBRE.Informationcontainedherein,includingprojections,hasbeenobtainedfrommaterialsandsourcesbelievedtobereliableatthedateofpublication.Whilewedonotdoubtitsaccuracy,wehavenotverifieditandmakenoguarantee,warrantyorrepresentationaboutit.Readersareresponsibleforindependentlyassessingtherelevance,accuracy,completenessandcurrencyoftheinformationofthispublication.ThisreportispresentedforinformationpurposesonlyexclusivelyforCBREclientsandprofessionals,andisnottobeusedorconsideredasanoferorthesolicitationofanofertosellorbuyorsubscribeforsecuritiesorotherfinancialinstruments.Allrightstothematerialarereservedandnoneofthematerial,noritscontent,noranycopyofit,maybealteredinanyway,transmittedto,copiedordistributedtoanyotherpartywithoutpriorexpresswrittenpermissionofCBRE.AnyunauthorizedpublicationorredistributionofCBREresearchreportsisprohibited.CBREwillnotbeliableforanyloss,damage,costorexpenseincurredorarisingbyreasonofanypersonusingorrelyingoninformationinthispublication.

TolearnmoreaboutCBREResearch,ortoaccessadditionalrese