Recap of 2024's Residential Real Estate Market: A forecast to vision what's next?

Piloting in a wave of innovation in home and property buying deals, the year 2024 has been a revolutionizing one for Indian real estate market. Among the evolving buyers’ interest and fluctuations in economy, the landscape of home buying has witnessed transformative shifts and dynamics. This comprehensive report delves into the groundbreaking performance of Indian real estate and their standout viewpoints that have transformed urban living. Join us to discover the home buying trends, milestones, and insights of industry veterans that have shaped 2024 and left fueling hints for growth and development of the industry.

2024’s Attention Seeking Trends of Residential Real Estate Market

The home-buying landscape in India has witnessed a quit lot of notable trends in 2024. As a result of rise in remote work has fueled a demand for homes with dedicated work spaces, leading to an increased demand and interest in rural and suburban properties.

Also the modern homebuyers are seen with giving utmost priority for spacious layouts and modern amenities such as swimming pools, co-working spaces, holistic spaces, and fitness centers, to improve their quality of life.

“For today’s nuclear families, housing is not just about a home; it’s about the lifestyle it supports. This has led to increased demand for integrated townships, self-sustaining communities offering residential, retail, healthcare, and entertainment facilities within a single complex”, says Akash Pharande, Managing Director, Pharande Spaces.

Sustainability has also risen as core factor with increasing preferences for environment-friendly home equipped with smart technology. With a growing focus on sustainability, ESG-compliant real estate has captured the interest of affluent buyers. Moreover, the segment of luxury housing has seen a surge in demand, especially from non-resident Indians and high net worth individuals.

“The rise of high-net-worth individuals & ultra-high-net-worth individuals in 2024 paints a fascinating picture of opportunity, influence, and ambition in real estate”, - Dr. Prashant Thakur, Regional Director & Head – Research, ANAROCK Group.