The India property market has been growing quite well and experts say that it is one of the fastest growing markets in the world. It is quite popular with real estate developers as well as overseas investors due to the strong economy.
Due to the large population, income level increase, and rapid urbanization, the housing construction industry is predicted to grow significantly this year, perhaps even into the double digits. This report comes from a recent research report from the Indian Housing Sector Analysis. In fact, the housing construction sector is predicted to do better than the industrial sectors in the next two or three years when it comes to GDP growth.
A significant part of the Indian housing industry is the affordable housing aimed at the economically weaker class and low-income groups. The value and volume of this sector has been doing quite well. Additionally, the medium housing sector is also doing well and experiencing growth, especially in Tier-1 and Tier-2 cities. It has also been reported that the luxury-housing sector will witness some growth as well even though it is relatively small presently. Super luxury housing may see slight growth as well, as MNC's have begun hiring expat employees that receive a luxury housing benefit.
The report also takes into factors that will bring success to the Indian housing market and brings to light information on the emerging industry trends. The forecasts are shared for the different classes of house sectors to provide a better understanding of the Indian housing market overall.