India, Nov 12: India’s commercial real estate investment volumes increased by 15% year on year in the first nine months of 2026, according to Savills’ latest Capital Signals Q4 2026 research. The country also attracted USD 5.5 billion in cross-border investment during the period, reflecting continued interest from international buyers.

Across Asia Pacific, commercial real estate investment reached nearly USD 200 billion in the first nine months of 2026, rising 27% from the comparable period last year. The recovery, however, is being driven increasingly by the region’s largest investors and transactions.

The 25 largest buyers accounted for 47% of APAC deal volume in the first half of 2026, the highest share since at least 2016 and up from 34% two years ago. The top 10 buyers alone represented 32% of volume. Transactions above USD 500 million were particularly active in Singapore, Australia, South Korea and Japan, while the overall number of trades remained broadly flat.

Nicholas Wilson, Senior Director, Strategic Research & Advisory, Asia Pacific Capital Markets at Savills, said,

“APAC investment volumes are recovering, but the recovery remains concentrated. In the first half of 2026, the 25 largest buyers accounted for almost half of deal value, while the overall number of trades was broadly flat. The next test will be whether pricing and financing conditions improve enough to bring a wider pool of capital back into the market.”

The report positions India as one of the few markets offering both high-income yields and income growth. Grade A office yields in India stand at 7.75% to 8.0%, among the highest nominal yields in the region, while rents are rising by 7% to 8% annually. The report also highlights India’s urbanisation potential: while 36% of its population lives in cities, India is adding around 12 million urban residents each year.

Speaking on India’s commercial real estate growth, Anurag Mathur, CEO, Savills India, said:

 “India continues to strengthen its position as an attractive destination for global real estate investors. Strong occupier demand, healthy rental growth and competitive yields are supporting investor confidence in the market. The growing interest from international buyers reflects the opportunity India offers, not just in terms of current returns, but also its long-term growth potential. As the market matures, we expect India to play an increasingly important role in the Asia Pacific real estate investment landscape.”

The increase in investment across Asia Pacific was broad-based across most major property sectors. Data centres recorded the strongest growth, with volumes up 79% year on year, followed by retail at 36%. Investment in office, industrial and hotels increased by around 22%, while apartments were the only major sector to record a decline, falling 12%. Third-quarter 2026 figures remain preliminary and are likely to be revised upwards as later transactions are recorded.

Capital Signals Q4 2026 examines institutional trends across Asia Pacific real estate capital markets, including office, living, logistics, hotels, credit and listed real estate.