Source: News 18 (https://bit.ly/48oLOXp)


Homebuyers are increasingly investing in India due to the favourable dynamics around the enhanced need for homeownership, stable mortgage rates and increasing property prices.

• Residential, office and warehousing market to remain buoyant in 2024.
• Mumbai is expecting a 5.5% increase in prime residential prices in 2024, driven by high demand and strong economic growth.
• Decentralisation of supply chains and manufacturing focus of the Government to aid the warehousing market.
• India along with China to lead Grade-A office supply in the APAC region in 2024. Together it will constitute almost two-third of the expected 10 million sqm (108 mn sqft) of office supply.

Shishir Baijal, chairman and MD, Knight Frank India said, “The residential sector exhibits substantial growth potential, underscored by sustained demand over the past few years, complemented by consistently stable interest rates and robust GDP expansion. Notably, there is a pronounced demand for mid- and high-priced residential properties. The resilience of the Indian economy has also catalysed the recovery of the office sector, which is steadily rebounding from its pandemic-induced downturn.”

“Fuelled by the robust demand from India-facing businesses and Global Capability Centres (GCC), we anticipate office leasing to surpass last year’s trend. Looking ahead, we envisage a continued upward trajectory for both the residential and office sectors, well-supported by ongoing GDP growth,” Baijal added

Megatrend 1: Continued urbanisation

Megatrend 2: Magnet for foreign investment

Megatrend 3: More than half of Asia-Pacific will be middle-class by 2024

Megatrend 4: Largest working-age population

Homebuyers are increasingly investing in India due to the favourable dynamics around the enhanced need for homeownership, stable mortgage rates and increasing property prices.