The real estate sector in India has experienced remarkable growth in 2023 and industry experts anticipate the homebuying sentiment witnessed in 2023 to persist in 2024 also.
Goa remains the most preferred destination for a holiday home, as about 35 percent of wealthy individuals chose to buy a holiday home in the state. The sunny beaches, hills, and lifestyle of Goa are the most significant appeal for individuals, but the return on the investments in holiday homes is also attracting investors and individuals.
The residential sector exhibits substantial growth potential, underscored by sustained demand over the past few years, complemented by consistently stable interest rates and robust GDP expansion. Notably, there is a pronounced demand for mid- and high-priced residential properties.
Driven by economic stability, policy reforms, and changing consumer dynamics, India’s real estate sector has registered strong growth with a massive uptick in demand in 2023.
The real estate boom in India seems to be a sweet spot for NRI investments. More NRIs are purchasing houses in India. The growth in NRI residential sales, which has risen from 11% to 15%, in a matter of months, underscores this point.
The most popular strategy that parents employ so that they can look out for their children, especially after they have passed away, is by investing in real estate. After all, a home not only provides a roof over one’s head, but also acts as financial security.
With the country expected to urbanise at a rate of around 36 percent this year and 50 percent by 2050, the focus will shift to tier-2 towns.
A property that has the potential to go under redevelopment is an uncertain bet. Apart from differences between existing tenants on a variety of issues, including the choice of the builder and the size of flats that get allotted to them post the redevelopment, you need to check if you have the patience to hold on.
Beyond the festivities and merrymaking, the festive season also presents a unique opportunity for individuals looking to make a significant investment – investing in real estate. We discuss various reasons why the festive season is the right time to invest in property.
The return of residential real estate after 8-9 years is a big driver for other businesses. As people invest in homes, it sets off a ripple effect that can boost economic growth.
