By Mr. Vishal Raheja, Founder & MD, InvestoXpert.com
The year 2024 marked a transformative phase for India’s real estate sector, defined by shifting buyer preferences and dynamic market trends. Vishal Raheja, Founder & MD of InvestoXpert.com, reflects on this milestone year, offering a comprehensive analysis of its defining moments and future trajectory.
Luxury Housing Surges
Luxury real estate solidified its stature as a symbol of affluence in 2024, witnessing a remarkable 30% growth in sales. High-net-worth individuals propelled this trend, gravitating towards branded residences in prestigious locations. Cities like Gurugram, Mumbai, and Bengaluru emerged as frontrunners, with record-breaking deals, including a Gurgaon apartment selling for rs 190 crore. This trend highlights the increasing appetite for exclusivity and luxury among India’s elite.
Tier 2 and Tier 3 Cities: The New Growth Frontiers
Beyond luxury, Tier 2 and Tier 3 cities showcased their potential as burgeoning real estate hubs. Factors like infrastructure development, digital adoption, and demand for affordable housing spurred a 20–25% increase in home sales in cities such as Jaipur, Indore, and Lucknow. Government initiatives like the PMAY and Smart City Mission were pivotal in driving this growth, fostering economic opportunities and improving living standards in these regions.
Outlook for 2025
While luxury housing is expected to maintain its momentum, challenges like rising interest rates and high base effects could temper growth in the coming year. However, India’s real estate market remains resilient, driven by evolving buyer aspirations and robust urbanization. These factors continue to shape the landscape, offering immense potential for growth and innovation.
Raheja’s insights capture the essence of India’s dynamic real estate journey in 2024, providing valuable perspectives for stakeholders and setting the stage for another exciting chapter in 2025.
