Early signs make 2024 a resilient year for residential real estate in India
In the wake of unprecedented global challenges, India’s residential real estate sector has shown remarkable resilience, laying the foundation for a promising 2024. Despite the challenges posed by the global pandemic and various economic uncertainties, early indicators suggest that 2024 could emerge as a resilient and promising year for the industry.
The recent dynamics within the real estate market reflect a significant shift in the investment patterns of India’s affluent population. As per the industry reports, the ultra-rich in India have allocated a staggering 32% of their wealth into residential assets. This substantial allocation underscores the enduring appeal of residential properties as a preferred investment avenue, reflecting confidence in the long-term stability and growth potential of the sector.
Furthermore, data suggests that the residential real estate market witnessed its strongest performance in 2023, setting a robust foundation for the year ahead. This trend is further corroborated by insights shared by industry experts. Experts predict a notable surge in home sales, estimating a 10-15% increase in the upcoming year. Such optimistic projections signal a positive sentiment prevailing within the market, driven by factors such as favorable policy measures, evolving consumer preferences, and renewed investor confidence.
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Several factors contribute to the buoyancy observed within the residential real estate segment. The government’s continued focus on affordable housing initiatives, coupled with supportive policy measures and regulatory reforms, has bolstered consumer sentiment and investor confidence. Additionally, changing
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