How will real estate pan out in 2020
Luxury real estate market over the span of last few years has witnessed growth in demand due to the increase in number of high net worth individuals in our country. As per a study published in 2019, India boasts of 2,697 ultra-net worth individuals (each individual with $30 million’s worth). The growth percentage was 118% in between 2013 and 2018. It was expected to grow by another 37% in between 2019 and 2024. According to the latest Wealth Report from Knight Frank, India had the largest growth in the number of ultra-net worth individuals in 2018.Bangalore is expected to be the leading city in terms of UHNI growth. Such figures are clear indicators of the potential, luxury housing holds in our nation.