Luxury real estate surges in India

Isaac Mostovicz writes that because of India's growing population and GDP, the local luxury industry will grow alongside it...

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A new report is out on the state of India’s real estate industry. The findings show that demand for luxury homes is growing at a quick pace.

This is yet another example of luxe industry diversification in the face of faltering demand from the West. This pull-quote from the report sums it up well:

Medium and luxury housing segments are expected to witness significant growth in the coming years. It is expected that medium housing segment will record CAGR (compound annual growth rate) of around 25% while luxury housing will see CAGR of nearly 33% during our forecast period (2009-2013), against CAGR of just around 4% in affordable housing.

I wrote previously that the luxury industry is re-focusing away from western markets, to lesser well-known, and emerging economies.

India is considered a developing country with a more than 1 billion people and a growing GDP. As a result, the luxury industry will continue to grow and prosper.

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