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Tuesday, 01 June 2021 / Published in Media & Articles, Real Estate Industry

Luxury Real Estate Trends to be observed this Year

Luxury Real Estate Trends

Publication: Brick & Block Making Machine – May 2021

Real estate is one of the fastest growing sectors around the world. According to IBEF, by 2040, the real estate market is expected to grow to US$9.30 billion from US$ 1.72 billion in 2019.

The growth is complemented by the rise in income and constant desire to buy better residential, commercial and hospitality spaces. Talking about luxury real estate, over the last couple of years, the segment has witnessed significant growth in demand due to a rise in the number of high net worth individuals. According to the Wealth Report 2021 from Knight Frank, at present, India is home to 6,884 ultra-high net worth individuals and 113 billionaires. The number is expected to grow to 11,198, a rise of 63% in the next five years. These statistics indicate the potential, luxury housing holds.

 

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Grovy India limited was established in the year 1985, with a purpose of developing extraordinary real estate properties that would change the scenario of the construction industry.

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