Global Hotspots for Ultra Luxury Real Estate: Where HNIs are investing
In the pulsating heart of India’s real estate market, a distinctive trend is reshaping the landscape – the surge in demand for sustainable luxury properties. This surge is not merely a market fluctuation; it’s a response to the conscientious desires of homebuyers, both domestic and international. In the wake of rising disposable incomes, an inclination towards opulent living, and the rapid urbanization of Indian cities, the Indian luxury real estate market is experiencing an unprecedented boom.
A report that stands testament to this growth is the India Luxury Real Estate Report 2023 by Knight Frank. According to this report, the number of ultra-high-net-worth individuals (UHNWIs) in India is poised to soar by an astonishing 63% within the next five years, reaching an impressive figure of 11,198 by 2025. This seismic shift presents a tantalizing potential for luxury real estate, especially in the apex cities of Delhi, Mumbai, Bengaluru, Chennai, Hyderabad, and Pune.
What sets this boom apart is the discernible rise in the demand for sustainable luxury properties. Prospective buyers are increasingly veering towards homes that are not only aesthetically opulent but also ecologically responsible. The data from a report by GlobalData underlines this shift. In 2021, the green building market in India was valued at a staggering $20,983 million, marking a compound annual growth rate (CAGR) of 7.2% from 2017 to 2021. The allure of sustainable living is not confined to Indian shores; globally, the interest in green building practices is evident. The Global Green Building Materials Market, estimated at USD 247.93 billion in 2023, is expected to reach USD 394.41 billion by 2028, reflecting a global shift towards eco-conscious
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