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Being a player in the real estate industry in India, it’s natural to wonder what impact the realty market in China can have on India. Since last year, China’s realty market has gone through some of the most challenging times. This year, the country has witnessed as much as a 60% decrement in home sales. This is believed to be the worst trend in the real estate market record in China. Low growth primarily contributes to this decline in sales. Due to rising property prices in China, common people are unable to invest in real estate. Besides, property developers are finding it more challenging to find investors and buyers. Thus, they cannot resume projects that are currently stalled. In this context, it is evident that the real estate market in China currently looks in poor shape.
The impact of the crisis is such that property investors in China are willing to channel their funds into the Indian real estate market. In India, the realty sector has grown consistently over the last few years. This migration of Chinese investors into the real estate market in India will boost the Indian economy. With increased consumer spending, the development on infrastructure and urbanization would be rapid. In the process, India will witness a faster development in both commercial and residential properties.
Currently, the Indian real estate sector is going strong. Besides, new trends like working from home in India have also influenced property demand. In India, the income level of households is continuously rising. As a result, the domestic demand for property has also increased manifold in recent years. The government is investing actively in infrastructure projects and urbanization. All these factors have resulted in a high demand for properties in the country.
With NRIs and Chinese investors purchasing properties in India, the demand for these homes is on the rise. The Indian government has come up with RERA and some beneficial tax policies that eventually assist the investment journey of the buyers. Eventually, the crisis in the realty sector in China would help the Indian market grow, as it continues to gain foreign investors. Fueled by these factors, the Indian real estate sector continues to grow at a healthy pace.
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