71 % of India's wealthiest are keen to invest in luxury real estate: Report
India Sotheby’s International Realty (ISIR) unveiled a robust economic optimism among High-Net-Worth Individuals (HNIs) and Ultra High-Net-Worth Individuals (UHNIs), with a staggering 79% expressing confidence in the Indian economy's positive trajectory for 2023-24, compared to 59% last year.
High life
Despite an almost ~40% rise in property prices over the last 24 months and increase in mortgage rates, 71% of respondents expressed an intent to buy real estate in the next 12-24 months, showcasing significant confidence in the market.
Capital appreciation has overtaken lifestyle upgrades, as the primary motivation for real estate investment (44%), signaling a return of investors to the market, with a focus on long-term appreciation.
«India is shaping its destiny far more confidently than ever before. The world’s fifth-largest economy is poised to become the third-largest by 2027, according to the International Monetary Fund. The country’s central bank, RBI, pegs a GDP growth guidance of 7% in 2024.
The rising economic momentum is reflected in record breaking housing sales numbers in Indian real estate in 2023 and an all-time high stock market. We believe the top end of the real estate market will benefit the most in the next 12-24 months.
Survival Of The Richest
The affluent class is expected to nearly double to 100 million people within three years, according to Goldman Sachs Group Inc. India’s ultrawealthy are growing. The robust start-up eco-systems and a growing number of unicorns have added to the swelling ranks of the super-rich. Our Luxury Outlook survey findings indicate a renewed and heightened interest among investors who now view real estate as a compelling avenue for long-term wealth creation,” said
Read more on economictimes.indiatimes.com
