The Impact of Demographic Shifts in Real Estate

What are demographic shifts??

A demographic shift characterised by shifts in population size and structure, is a product of changes in birth and mortality rates, as well as the patterns of migration.

It has an impact on various aspects of a nation's economy, and the Indian real estate sector is no exception. India experiences significant changes in its population composition, and it is changing the way end-users buy homes. The real estate transformation is real.?

Let’s see how and explore the demographic factors shaping real estate.

1. Urbanisation

India's urban population is rapidly increasing. As more people move to cities in search of better opportunities and a higher standard of living, the demand for urban housing has skyrocketed. This has led to the development of new residential projects, especially in tier 1 and 2 cities.

1. Millennials’ Preferences

The generation born between the early 1980s and the mid-1990s is a significant driving force in the real estate market. Millennials have distinct preferences, often favouring smaller, functional, and tech-savvy homes. As a result, Goyal Properties is adapting to meet their needs by creating smart homes with modern amenities such as Open Air Theatre, Stargazing Observatory, Sky Lounge, Co-working Space, and a dedicated area for Meditation.

1. Senior Living for Ageing Population

According to the World Bank, the number of people aged 60 & above is expected to double by 2050 – 100 million to 200 million. With that the demand for senior living facilities, retirement homes, and assisted living centres is increasing. Developers are recognising this trend to invest in projects designed to cater to the needs of the elderly.

1. Co-living Spaces

The concept of co-living is gaining traction among young professionals, students, and migrants in urban cities. The shared housing model with its sense of community is making its mark on the evolution of real estate.?

1. Investment Opportunities & NRI Buyers

The Indian diaspora, comprising Non-Resident Indians (NRIs), is a significant source of investment in the Indian real estate market. Many NRIs seek properties in India, whether for investment, vacation homes, or retirement plans.?

Demographic shifts in India are redefining the real estate landscape. To thrive in this ever evolving market, developers and investors need to adapt to the shifting demands and preferences of the population. As the nation continues to grow, the real estate sector must remain dynamic to ensure its long-term success.

At Goyal Properties, Adaptability is one of our core values. When the market changes, we make an effort to evolve when it comes to enhancing the lives of our customers. We say we’re #37YearsYoung for a reason! Looking ahead with ambition & passion.?