Over the past couple of years, we have seen an upturn in this sector. In 2023, India’s real estate landscape showed significant growth as the country’s housing demand continued to gain momentum. Both new construction launches and home sales showed positive momentum as affordability of residential real estate in India remains in its sweet spot, driven by end-user driven demand.
India’s rapid economic growth, urbanization, affluent population, rising disposable income, aspiration for modern and spacious homes with better amenities, and the perception that real estate is a safe investment are also driving positive consumption. It plays a role in promoting human psychology.
Post-pandemic, homebuyers are looking for safe, sustainable, and multifunctional living spaces, and there is an increasing trend towards homeownership. This shift in preferences is driving home sales for luxury housing projects in India to rise, as today’s buyers prioritize homes that support a better lifestyle post-pandemic and are willing to pay a premium for quality housing developments. Connected. As a result, multifamily projects in the mid-to-high-end, premium-plus, and high-end segments are performing well.
Consolidation in the real estate sector and consumer preference for reputable developers on the back of strong product offerings and consistent project additions has also led to consistent demand across consumer segments, different price points and micro-markets. , offers strong opportunities for reputable developers. It’s safe to say that the market will do well over the next few years.
Favorable macroeconomic indicators are expected to continue to provide positive momentum, including India’s GDP growth being the highest in the world and interest rates likely to be at or near their peak. In addition, favorable government policies, coupled with efforts to streamline regulatory processes and promote affordable housing, have made consumer sentiment even more positive. This has played a pivotal role in the growth of the overall real estate sector in the country.