Indian Real Estate Market Set to Reach $10 Trillion by 2047: Report
The Indian real estate market is expected to play a pivotal role in the country's economic growth, potentially reaching $10 trillion by 2047.
Indian Real Estate Market10 Trillion MarketCredaiColliersReal Estate GrowthReal Estate NewsSep 23, 2024
The report, released by Colliers in collaboration with the Confederation of Real Estate Developers' Associations of India (CREDAI), explores the interplay between real estate and India's economic growth journey over the next few decades.
The report notes that various real estate segments will evolve and continue to proliferate, growing and maturing by varying degrees. Core assets such as office and residential real estate are likely to mature further, while alternative assets such as data centres and senior living will embark upon strong growth trajectories.
Market consolidation, fair pricing, and institutionalisation will become more pervasive across asset classes, especially in the industrial and warehousing segment.
With shifting demographic patterns in India, the median age is likely to increase from about 30 years to approximately 40 years by 2050. Further, half of the Indian population is projected to live in urban agglomerations by 2050. With rapid urbanisation and supporting factors like infrastructure growth and employment opportunities, real estate traction is likely to expand beyond tier-I cities and create dispersed growth centres in smaller towns and cities.
Peripheral areas of established cities and tier II and III cities of the country will particularly witness accelerated real estate development across asset classes.
“India has set its sights on becoming a $10 trillion real estate market, driven by the sector's ability to adapt and innovate. Landmark initiatives such as RERA and REIT regulations have enhanced transparency, improved investor confidence, and streamlined operations across the sector,
Frequently Asked Questions
What is the expected size of the Indian real estate market by 2047?
$10 trillion
What is the expected share of real estate in India's GDP by 2047?
14-20%
What are the key drivers of growth in the Indian real estate market?
Demographic changes, urbanisation, infrastructure growth, and employment opportunities
What is the expected impact of digitalisation on the Indian real estate sector?
Increased operational efficiency, transparency, and accountability
What is the expected growth in institutional investments in the Indian real estate sector?
Significant growth, with the majority being funded by foreign players
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