Market Trends of India Luxury Residential Real Estate Industry
The growing presence of (HNIs) and (UHNIs) in major cities across the nation.
Luxury living in India is on the rise, and developers are capitalizing on this trend by constructing luxury properties with world-class facilities. The Arbour is a prime example of this, with DLF's success setting a new standard for luxury living. The luxury property market in India is set to continue to grow in the years to come, providing both developers and buyers with lucrative investment opportunities.
The number of high net-worth individuals (HNIs) in India is projected to increase by 63% from 2020 to 2025 to 1.02,000. With high disposable incomes, these individuals are ready to invest in high-end properties that provide a high quality of life.
Nowadays, more and more families are willing to shell out hundreds of thousands of dollars to purchase high-end homes that provide unrivaled comfort and convenience.
Rise in Smart Home Is Expected To Drive The Market
In today’s world of cutting-edge technology, the term ‘smart home’ has come to mean ‘connected home.’ As IoT devices and smart automation systems become more commonplace, smart home technologies are playing an increasingly important role in transforming the real estate market.
Investing in smart home technology may seem like a no-brainer in today’s market, where inflation rates are at an all-time high and interest rates are once again on the rise.
Nearly 13 million smart homes were installed in India in 2022. Another 12.84% of smart home solutions are expected to be in use by 2025. While the penetration rate of smart home devices is lower in India than in Western countries, the COVID-19 pandemic has helped shift the mindset from convenience to necessity when it comes to connected devices. This segment is further supported by the increasing popularity of Working Fixtures (WFH) and Hybrid Working Models (HWM).
