India Real Estate Market Outlook 2023

India Real Estate Market Outlook 2023

Real estate is an arena that cannot be overlooked in the country’s economic growth. This sector has contributed to a greater extent into the country’s tremendous growth. Experts believe that considering current market conditions, an investment in real estate sector in 2023 make for the perfect choice. This is because the rental value and price appreciation are pretty high.

Yes, this is very true that the India Real Estate Market can increase or decrease economic growth. The best part is that India's real estate Market Outlook 2023 is positive and it will see a great uptrend in this year. Moreover, it will be an important part of India's economic growth.

By 2023, the organized retail real estate sector is expected to jump by 28% to 82 million square feet as per the recent report. India Real Estate Market Outlook 2023 is tremendously positive and indeed it will be an important driver of economic growth.

As per recent report, this sector in the country is expected to reach about US$ 1 trillion in market size by the year 2030, which is up from US$ 200 billion in the year 2021. The sector has successfully come out of the troubled waters of the COVID-19 pandemic and it has performed very well in the year 2022 owing to good buyer sentiment. The growth outlook for the year 2023 is projected to be robust.

There will be surge in all sectors of real estate arena- residential and commercial plots, luxury apartments, commercial retail units, office spaces, independent floors and villas. One more report says that this sector will contribute 13% to the country's GDP by the year 2025. Real estate market will grow to INR 65,000 crore (US$ 9.30 billion) by 2040 from INR 12,000 crore (US$ 1.72 billion) in 2019. Many factors are driving the Indian retail market and it will be benefiting all the end users and investors for sure.

The country has an advantage of a large and youthful labor market that is why it has become a favorite destination for global investors. The demand of housing in India is expected to touch new heights in 2023. Only if inflation remains unchecked, buyer sentiment might be impacted (word of caution). However, this sector is very strong; it has shown great success despite global headwinds.

One more reason behind growth of housing sector in real estate is the country's young population that is seeking better quality housing. There will be a robust demand for housing properties. Overall, the Indian real estate sector will have a significant influence on the growth path of Indian Economy and India Real Estate Market Outlook 2023 is tremendously positive.