The ultra-wealthy provide a boost to residential real estate.

by Shophia S. Real Estate

According to a survey by property consultancy Knight Frank, a new generation of self-made ultra-rich Indians is investing in the country's residential real estate.

 

And also India's ultra-high-net-worth individuals (UHNWIs) purchased a residential property at a 29 percent higher rate in 2021 than the previous year.

 

Moreover, Entrepreneurs are increasingly investing in second houses, as the residential market has rebounded sharply since the Covid-19 epidemic. An Indian UHNWI - a person with a net worth of $30 million or more — currently owns two residences on average.

 

Also, ShishirBaijal, chairman and managing director of Knight Frank India, said: "Investment in the real estate sector in India has grown in recent times, especially in the wake of the pandemic, as real estate was viewed as a safe and tangible investment option amid the economic volatility. Further, at attractive valuations, real estate continued to drive institutional demand."

 

UHNWIs are actively searching to buy a new home in 2022, according to property brokers. Some are referring investing in Property in Noida to him. 

 

These individuals choose to invest in domestic properties first, followed by the markets in the United Kingdom, the United Arab Emirates, and the United States.

 

The number of self-made UHNWIs in India has been increasing, thanks to a surge in the startup industry, with many of these businesses receiving high-value funding from venture capital firms and other investors.

 

According to the report, the number of UHNWIs in India increased by 11% year on year in 2021. Bengaluru saw the fastest increase in the number of UHNWIs among major Indian cities, rising 17.1% to 352 in 2021. Delhi (12.4 percent and 210) and Mumbai (12.4 percent and 210) came in second and third, respectively (9 percent and 1596).

 

According to the research, India was rated third in terms of the number of billionaires in 2021, behind the United States and China.

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Created on Mar 23rd 2022 07:48. Viewed 256 times.

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