Despite the worldwide downturn, the Indian real estate sector is thriving, according to experts

The housing market in India is expanding.

Indian real estate industry: According to real estate experts, despite the collapse of the global real estate market, 2023 is anticipated to be a year of expansion and growth for the Indian real estate sector, in part because of the economy’s stability and high residential end-user demand.

foreign property

Due to increased interest rates, projects have been shelved in the United States. Sources claim that after increasing by 20% in 2021, UK real estate investment returns decreased by 10.4% in 2022. Asian real estate markets, however, have recently proven resilient. Credit Suisse research analysts predict Singapore’s real estate market would be a “beacon of light” despite the global housing crisis.

The Indian real estate sector mostly reflects the Indian economy’s tenacity in the face of global challenges. The real estate sector is anticipated to expand and increase its contributions to f India’s GDP in the upcoming years. Growth rates are constant, and the current pace is likely to last. Manoj Gaur, Chairman of Credai NCR ad CMD of Gaurs Group, stated to Business Today that the Indian real estate industry “serves as a fitting example of navigating turbulent times and showing signs of growth” when sales in the global real estate market slowed.

Indian real estate market

A younger, more urbanised population looking for higher-quality homes is another positive demographic factor at work. The demand for homes in India has remained high despite the country’s increasing urbanisation, according to Anshuman Magazine, president and CEO of CBRE’s India, Southeast Asia, Middle East, and Africa region. There is a high demand for residential real estate, as shown by the fact that the supply of properties that are ready to occupy has all but disappeared and that customers have no other options besides projects that are still under construction. India has climbed higher in the rankings of the world’s business environments and has the indisputable advantage of having a huge and young labour market.