The Luxury Housing Market in India: A Sustainable Growth Story?
The luxury residential market in India has experienced substantial growth over the past three years, driven by rapid urbanisation, increasing disposable incomes, and changing lifestyle aspirations.
Luxury HousingReal EstateIndiaSustainabilityGrowthReal EstateOct 05, 2024
According to a report by Knight Frank India, the luxury housing segment has recorded a sustained rise in its market share (sales) starting Q3 2022, with 46% of the total home sales across the top eight cities in India concentrated in this category.
However, experts warn that the complete dependency on the upper end of the market is not a sustainable development from a long-term perspective.
Frequently Asked Questions
What is driving the growth of the luxury housing market in India?
Rapid urbanisation, increasing disposable incomes, and changing lifestyle aspirations are driving the growth of the luxury housing market in India.
Is the luxury housing market in India sustainable in the long term?
No, experts warn that the complete dependency on the upper end of the market is not a sustainable development from a long-term perspective.
What is the contribution of non-resident Indians (NRIs) to the Indian real estate market?
NRIs are increasingly investing in the Indian real estate market, driven by emotional ties and fiscal prudence, and are expected to comprise a 20% share in the country's total real estate investments by 2025.
What is the outlook for real estate prices in India?
Real estate stakeholders across the spectrum foresee a sustained rise in real estate prices, including in the luxury segment, going forward.
What should investors consider when investing in a luxury housing project?
Investors should understand the neighbourhood, be clued into investment, financing, and taxation-related issues, and prioritize quality and exclusivity.
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