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