Residential real estate poised for growth in 2024, says industry experts
Residential real estate sector witnessed yet another stellar year with launches likely to reach approximately 300,000 units by end-2023, a remarkable 11% higher than the previous record year of 2022.
In the last couple of years, the residential market has come out of a long period stagnancy in prices.
Attracted by the prospect of capital gains, the residential market is currently witnessing huge participation from investors, according to international property consultant Cushman & Wakefield.
“Investors are displaying confidence by channelling funds into new launches and land transactions, indicating sustained interest and optimism in the Residential real estate sector. Although, not expected to undergo radical fluctuations, the market is anticipated to remain stable moving forward,” said Shalin Raina, Managing Director, Residential Services, India.
In NCR, areas like Dwarka Expressway, New Gurugram, and South of Gurugram (Sohna), SPR residential demand has seen a significant upswing, driven by keen interest from buyers towards mid-housing and massive infrastructure development in these locations.
