Middle and lower middle income segment is driving housing demand
Whereas most of the attention of the building industry has been on the upper segment (where easy margins and profits were available), it is middle and lower middle India which is driving urban housing demand
The demand for housing of size less than 1000 sq ft is 6.2 million units over the next 7 years, which is 2/3rd of the demand (figures for the top 112 cities of India)
The anticipated growth in percentage terms in the lower segments (23% combined) is lower than the upper segment (30%), but on a base which is nearly two and a half times.
The pattern is similar for the alpha (top 10) and beta (the next 20) cities, implying a uniform demand for affordable housing.
also see Housing Stock and Demand
also see the following write up by my colleague Peeyush
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Tags: housing demand, housing demand data, housing demand research, housing market trends, housing trends
January 20th, 2009 at 1:06 pm
with the demise of housing sector in , metropolton cities , lot of potenial is there for all real estate companies to capture tier 2 cities, they need to mould their products to suit the requirnments of customer in these cities. there is lot of potenial for real estate sector to grow in coming years if they are able to capture new market for their product.