Real estate developers emerged as dominant investors, commanding 58 percent of transaction volumes in a major shift from HNI-led activity. Tier II and III cities captured 60 percent of investments, reflecting fundamental geographical rebalancing away from traditional metros while IBC-led distressed asset transactions generated $288 million, representing 58 percent of H1 2026 transaction activity, said the report.Real estate developers emerged as dominant investors, commanding 58 percent of transaction volumes in a major shift from HNI-led activity. Tier II and III cities captured 60 percent of investments, reflecting fundamental geographical rebalancing away from traditional metros while IBC-led distressed asset transactions generated $288 million, representing 58 percent of H1 2026 transaction activity, said the report.