Real Estate market is going abreast with countries economy. Rapid urbanization and steep rise in income is the story of India in 2024. The economy is on the ascendency, in fact, the housing and commercial sector is soon catching-up to the trends. Increase in demand has compelled the builders to make important adjustment in pricing. Also, there is an increase in the buyers for 2024.
The market is evolving at a quick pace and being well-informed is paramount to make important decision in this ever-changing market, where Heraclitus quote still stands valid, “change is the only constant.”
Positive vibes triumphs when it comes to 2024. The challenges of 2023 year would not emerge. According to analyst encouraging market condition persist. The opportunity to buy a land is increasing day by day, hence there is a rise in housing opportunities. It doesn’t matter if you are a first-time buyer or seeking an investment in the property sector. Watch the trend in real estate market and make your decision.
Asia in general and India in particular is famous for its diversifying of portfolio. Real Estate is favorable for the rise in allotments in 2024. Real Estate sector is improving with India’s growth. The economy is increasing at a brisk pace.
What Makes India’s Real Estate Sector an Attractive Investment option?
The depth of capital in Asian markets, including India, is diversifying, with real estate emerging as a favored sector for increased allocations. India’s position as one of the fastest-growing economies globally, driven by private consumption and capital formation, makes the real estate sector an attractive investment option. Investors are exploring opportunities across various real estate segments, such as office spaces, logistics, private credit, residential properties, and data centres.
Considered a long-term and secure investment by financial experts, the future of the real estate sector appears promising. A report by Concorde outlines a robust Compound Annual Growth Rate (CAGR) of 9.2% for the real estate sector from 2023 to 2028. The year 2024 is expected to mark the next phase in the evolution of real estate, driven by factors such as continued urbanisation, growth in the rental market, and steady appreciation in property prices.
According to experts, the residential real estate market is set to remain within affordable limits, reaching a three-year high in 2024. The JLL Home Purchase Affordability Index indicates that metro cities like Mumbai, Delhi NCR, and Chennai will spearhead this surge in the real estate sector. Furthermore, the expected repo rate cut, ranging between 60-80 basis points, is anticipated to maintain home prices within an affordable range for buyers.
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