Real estate premiumization not a temporary trend, say experts
Experts say the trend of premiumization in India's real estate market is not temporary, driven by increasing affluence and demand for high-quality properties. The residential market has seen a shift towards premiumization, with properties above ₹1 crore growing 6% year-on-year, while mass housing demand has declined.
India's real estate market is experiencing a trend of premiumization. Properties above ₹1 crore have grown 6% year-on-year, while mass housing below ₹1 crore has fallen 30%. This shift is driven by increasing affluence and demand for high-quality properties. The commercial market is also seeing a transformation, with companies seeking to engage and retain a young workforce by offering high-specification offices. Institutional growth and capital influx have led to higher expectations and a greater need for distinct asset differentiation. The pandemic has accelerated this trend, with companies seeking to entice employees back to work with amenities and features that make them feel comfortable.
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