The Evolving Rental Landscape in India: Trends and Projections
The real estate landscape in India has transformed significantly in recent years. Far from being a fluke or a statistical anomaly, this is the result of a series of intertwined factors, such as demographic shifts, changing investment dynamics, and attitudes towards home ownership.
For instance, the surge in urbanisation has led to many aspiring professionals moving to cities and burgeoning micromarkets for better opportunities, infrastructure, and an overall elevated lifestyle. This, in addition to the flexibility and increased mobility afforded by rental properties, has led to a boost in demand for rentals, especially in urban areas.
The return to work and growing preference for real estate assets such as co-living and co-working spaces have also worked to further fuel the demand for rental assets. A recent report by a leading real estate consultancy has reaffirmed this by revealing a whopping 17.4% YoY surge in rent across India’s 13 major cities. Gurgugram was listed as the city with the highest increase, with a 31.3% surge as compared to the previous year, followed by Greater Noida with a 30.4% YoY surge and Bangalore with a 23.1% YoY surge.
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