Retail real estate markets in India and China will witness the greatest growth in 2015, according to Collier International's 2015 Property Outlook.
Simon Lo, Executive Director of Research and Advisory Services, Asia, said that the increased spending power of the younger generation, the rapid growth in middle-class families and the sustained pace of urbanisation across the continent have been the driving forces behind retail sales over the past few years.
Lo added that these were the positive factors and look that was set to continue for at least another five years, Enterprise Innovation reported.
With e-commerce in full swing in India following market penetration driven by electronics, apparel and a wide range of fast-moving consumer goods, international and domestic retailers are looking forward to expand their hold.
Meanwhile, retail sales in China are rising at 10 to 12 percent per year, one of the fastest rates in Asia, driving strong demand for retail real estate, the report added.
