Latest Property Trends in India

The Indian real estate market is one of the largest and fastest-growing in the world. According to a recent report, India's real estate industry is projected to reach $828.75 billion by 2028. The market is driven by a number of factors, including urbanization, rising incomes, and a growing middle class.

Observing worldwide patterns where vacation homes have become increasingly significant, India also seems like a good place for this. It's not just about spending weekends with family or having fun with friends anymore. Instead, it's evolving into a wise investment choice for homebuyers, supported by increasing demand.

In the meantime, a desire for larger homes and open environments prompted numerous travelers to choose vacation homes over traditional hotels. According to recent research conducted by 360 Realtors, the vacation and second home market in India stood at USD 1.394 million, with a compound annual growth rate (CAGR) of 23.63%.

In the past, holiday and rental homes were mainly small businesses run by local builders. However, as this market becomes more popular, prominent developers are becoming attracted to it. Unlike the normal, long-term residential rental properties in India, which generally yield about 2-3%, holiday rentals can provide much higher returns, often ranging from 5-6%.

The involvement of these major players will lead to the development of extensive, secure vacation and second-home communities with a wide range of services, including on-call medical services, concierge assistance, laundry facilities, quiet reading areas, retail spaces, and many other facilities.

The boundaries between tourism, hospitality, and accommodation are becoming less distinct. Additional layers of amenities are being introduced to enhance the overall stay experience. These include offerings like yoga, meditation, Reiki, massage and spa services, holistic education, and spiritual packages, which are seamlessly integrated into traditional stays. Moreover, innovative ideas such as zen gardens, simulated forests, organic farming, horticulture, and hobby training programs like cooking, baking, and sports are gaining prominence in various projects.

The focus on sustainability and environmental responsibility is influencing the real estate market. There is a growing trend of eco-friendly projects that integrate sustainable design, energy-efficient technology, and environmentally responsible materials.

• The market is exhibiting a continuous growth rate
• Market Dynamics
• RERA Policy Support
• Opportunity in Market