Residential real estate is one of the safest investments in India. Last year, the Indian residential real estate market not only achieved unprecedented growth but also surpassed all expectations and set new records. Buyers are turning to owning homes instead of renting. In this regard, the Indian residential real estate market is reassuring to investors. The housing market is a good choice for those who want stability and growth. Similar to last year, residential real estate is expected to be booming in 2024 as well. Despite the many challenges the world has faced in recent times, India’s residential real estate sector has shown remarkable resilience. In the same vein, 2024 is also expected to be a promising year for the real estate sector, especially in urban areas with high development and infrastructure trends, which is expected to increase demand.
Increased demand for luxury homes…
Indian home buyers want to enjoy a luxurious lifestyle. This has increased the demand for luxury residences. On the other hand, with continuous urbanisation, growth of the rental market, and constant price increases, the real estate sector is showing steady growth. Housing rates remain in an affordable range for buyers for a longer period amid expectations of a repo rate cut in the normal range. Rising incomes and increasing demand for housing in urban areas have led to increased urbanisation.
Record progress…
Not only is the country the fastest-growing economy, but real estate indices are at record highs. 2023 started with global inflation. Everyone feared it would be a full-blown recession. Despite inflation, the real estate market performed strongly that year. Cities saw a strong finish. As the market prepares for a remarkable breakthrough this year, demand for residential properties has increased. There is significant growth in the property markets across India, including an increase in new launches and an increase in property sales. High sales and a growing luxury segment are reassuring to developers. Moreover, the Indian real estate sector is at the heart of the economy. Also supporting many other industries. All these factors make it safe to invest in residential real estate in India.
