These individuals are investing in second homes as the residential segment witnessed a sharp recovery post the pandemic in the country. Currently, on average, an Indian UHNWI owns over two homes, and approx. 32 per cent of the Indian UHNWIs are settled in
The Indian real estate sector bore the weight of the pandemic, with the luxury home segment hit the hardest. However, this segment was the fastest to bounce back, too, with demand outpacing the supply. The impact of the omicron wave was quite limited, the market rode on the twin momentum of the ongoing low-interest rate regime and attractive pricing offered by developers.
In Q1 2022, one of the trends observed is the rise in sales for bigger ticket sizes, with apartments priced over Rs 1 crore or higher recording an on-year 83 per cent growth in sales.
Investment in the real estate sector in India has grown in recent times as it was viewed as a safe and tangible investment option. In the last two years, stocks have performed well and also there has been a rise in salaries in the IT sector – both these factors have led to a good flow of investment in real estate.
The expectations of the next boom in real estate are also driving investors back into the sector as they expect healthy appreciation in strategic micro-markets like
— Bhavesh Kothari, founder & CEO of
Times Property
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