Luxury Property Boom to Skyrocket Home Prices in India
- Home prices in India are set to rise steadily, driven by demand for luxury properties from wealthy individuals, according to a Reuters poll of housing experts.
- Economic growth benefits are increasingly being funneled to a select few, leaving millions of job-seekers out of the growth story.
- Aspiring first-time buyers are forced to keep renting as affordable homes dwindle and cash-rich individuals corner the property market.
- National home prices in India are expected to rise 7.75% this year, with further increases of 6.0%-6.25% in the next two years.
- Developers are focusing on luxury housing projects, aligning supply with prevailing demand, while affordable housing continues to suffer.
Source: Reuters
India is just good for crooks, goons and thieves.
The 0.1%-0.8% population of Indians are those who will buy these luxury housing along with NRIs , politicians , entrepreneurs who are scaling at good level or who took a great exit or people with black money
Inflated house and land prices. I just hope this bubble bursts soon. So that I can buy my first home.
The government will ensure it will never happen, read how real estate financing works in India.
We are at the cusp of a major revolution. And the time is ticking.
True, I had to buy last year due to year on year increase. Real Estate is not affordable right now.. either politicians, business men or NRI, these 3 are driving the rates crazy. Hardly able to afford a decent 3BHK
What is the basis of such increase in prices in real estate? The kind of increase in prices does not justify the purchase as well. It's also getting difficult to purchase the land and then build the home ourselves.
The basis is rich people buying up property everywhere which has driven up prices across the world. Especially since covid.
This is true for every country now.
The top 0.1 percent will keep getting richer..the entire India story has changed from "consumption and growth drive by 1B plus people" to "luxury consumption by the top 0.1 percent"