India's Real Estate Market Set to Soar: $10 Trillion by 2047
Colliers-CREDAI report predicts 16% annual growth, driven by urbanization, infrastructure, and sustainability
India Real EstateCollierscredai ReportReal Estate GrowthUrbanizationInfrastructure DevelopmentReal Estate NewsSep 25, 2024
Growth driver 1 Rapid urbanisation. By 2050, over half of India's population will be living in cities, fueling massive demand for housing, offices, and retail spaces. Cities like Mumbai, Delhi, and Bangalore will see significant growth, while smaller towns and peripheral urban areas will emerge as real estate hotspots.
Growth driver 2 Infrastructure overhaul. India's infrastructure is getting a major upgrade, with projects like the Gati Shakti Master Plan, industrial corridors, and the Golden Quadrilateral. This will trigger a wave of real estate development in tier II & III cities, bringing modern amenities and commercial hubs to these areas.
Growth driver 3 The digital transformation. The digital revolution is reshaping Indian real estate, with data centers emerging as a high-growth asset class. This is driven by India's data boom, which is expected to continue in the coming years.
Growth driver 4 Shifting demographics. By 2050, the median age in India will rise to around 40, with the urban population hitting 50%. This will drive demand for everything from starter homes to senior living communities.
Growth driver 5 Sustainability takes centre stage. With sustainability being a key focus, developers are adopting eco-friendly designs at every stage of construction. Green certifications for offices and homes will soon be standard, and renewable energy usage will rise.
Growth driver 6 Diversified investments. India's real estate is attracting massive foreign investments, with over $60 billion coming in over the past decade. Institutional investors are now eyeing not just residential properties, but assets like data centers, senior living, and even healthcare facilities.
New real estate segments to watch Senior living, co-living & data centers. Real estate is evolving beyond just homes and offices. Senior living communities will cater to the growing ageing population, co-living spaces will be a hit with young professionals, and data centers will boom due to the increasing demand for digital services.
Tier II & III cities The new growth engines. Smaller cities and towns like Lucknow, Surat, and Coimbatore are emerging as the next big thing in real estate. With affordable housing, business opportunities, and infrastructure developments, these cities will see a real estate boom like never before.
About Colliers Colliers is a leading real estate consulting firm that provides expert advice to clients across the globe. With a presence in over 68 countries, Colliers has a deep understanding of the real estate market and its trends.
About CREDAI CREDAI is the Confederation of Real Estate Developers' Associations of India, a body that represents the interests of real estate developers across the country. With a membership of over 12,000 developers, CREDAI is a leading voice in the Indian real estate industry.
Keywords India real estate market, Colliers-CREDAI report, urbanization, infrastructure, sustainability, digital transformation, demographics, investments, senior living, co-living, data centers, tier II & III cities
Frequently Asked Questions
What is the projected growth rate of India's real estate market?
16% annually
What are the six key drivers of India's real estate market?
Rapid urbanization, infrastructure overhaul, digital transformation, shifting demographics, sustainability, and diversified investments
What is the expected contribution of the real estate sector to India's GDP by 2047?
Up to 20%
Which cities are expected to see significant growth in the real estate market?
Mumbai, Delhi, Bangalore, Lucknow, Surat, and Coimbatore
What are the new real estate segments to watch?
Senior living, co-living, and data centers
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