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Second fastest growing economy in the world with GDP growth of 9.2% in 2006 and 9.4% in 2007. |
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Wages rose 13.8% in 2006 and 11.2% in 2007, the highest in Asia. |
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House price have risen an average of 70% over the last two years. |
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Merrill Lynch is predicting a 700% increase in property prices from 2005 -2015. |
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Indian will be the world's most populous country by 2030 (1,500 million people), adding an additional 400 million people and overtaking China. |
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India has the youngest population in the world with 51% of its population under 25. 40% of the population is under 15. India's working age population is therefore expected to increase rapidly while China, Japans and the West's is projected to decrease. This means India is projected to have the largest population of workers and consumers in the world, driving economic growth and demand for homes. |
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India's middle class is projected to increase from 50 million in 2005 to 300 million by 2010. |
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India is the most attractive destination for organised retail (AT Kearney Retail report 2007). |
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India is the world's leading county for IT outsourcing in the world. |
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Real Estate in India projected to grow at 30% per annum for the next decade – ASSOCHAM(the Associated Chambers of Commerce and Industry of India). |
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There is an official 20 million unit shortage in demand for housing, and growing each year. |
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There has been a fundamental change of attitudes in Indians. Previously it was always "save and buy" a house. Now it is "borrow and buy". |
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Introduction of the mortgage culture has increased mortgage lending 10 fold in the last 5 years but it still only makes up 4% of GDP. European average of mortgage to GDP ratio is between 25-60%. Huge room for growth in the Indian mortgage industry. |
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Indian families are living together less as an extended family ,increasing the demand for housing. |
