Trends and Growth in India's Luxury Real Estate Market
India's luxury real estate market is experiencing a significant surge in demand, driven by wealthy Indians and Non-Resident Indians (NRIs). Key factors contributing to this trend include: Robust Demand and Quality Launches India's residential sector is expected to reach 290,000 to 300,000 units of sales due to strong demand and quality launches. The mid-segment price category has dominated sales, while the premium and luxury segments have seen significant increases of 22% and 83%, respectively. Changing Consumer Preferences and the COVID-19 Pandemic The COVID-19 pandemic has led people with high purchasing power to seek larger, safer living spaces with ample amenities. India's millennials, comprising 36% of the population, accounted for 54% of homebuyers last year, with an estimated combined spending power of over US$330 billion. Goa: A Preferred Destination for Luxury Homes Goa is becoming India's primary destination for luxury and ultra-luxury properties due to its picturesque location, favorable climate, and perfect balance of nature living and modern comforts. North Goa and Sindhudurg are thriving grounds for luxury housing, plotted developments, farmhouse communities, grand villas, and second homes. NRI Participation and Investment NRIs are increasingly investing in India's luxury real estate, injecting $13.1 billion into the market in the previous year. By 2025, NRIs are expected to account for 20% of the country's total real estate investments. Investing in luxury real estate in India is a strategic move for NRIs to diversify their investment portfolios and benefit from competitive pricing, increasing rental yields, and potential for property appreciation
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Trends and Growth in India's Luxury Real Estate Market
India's luxury real estate market is experiencing a significant surge in demand, driven by wealthy Indians and Non-Resident Indians (NRIs). Key factors contributing to this trend include: Robust Demand and Quality Launches India's residential sector is expected to reach 290,000 to 300,000 units of sales due to strong demand and quality launches. The mid-segment price category has dominated sales, while the premium and luxury segments have seen significant increases of 22% and 83%, respectively. Changing Consumer Preferences and the COVID-19 Pandemic The COVID-19 pandemic has led people with high purchasing power to seek larger, safer living spaces with ample amenities. India's millennials, comprising 36% of the population, accounted for 54% of homebuyers last year, with an estimated combined spending power of over US$330 billion. Goa: A Preferred Destination for Luxury Homes Goa is becoming India's primary destination for luxury and ultra-luxury properties due to its picturesque location, favorable climate, and perfect balance of nature living and modern comforts. North Goa and Sindhudurg are thriving grounds for luxury housing, plotted developments, farmhouse communities, grand villas, and second homes. NRI Participation and Investment NRIs are increasingly investing in India's luxury real estate, injecting $13.1 billion into the market in the previous year. By 2025, NRIs are expected to account for 20% of the country's total real estate investments. Investing in luxury real estate in India is a strategic move for NRIs to diversify their investment portfolios and benefit from competitive pricing, increasing rental yields, and potential for property appreciation