constructionweekonline.in-India’s real estate market to touch $1 trillion by 2030, fueled by PropTech advancements: Aurum PropTech Report
The Indian real estate market is projected to catapult from $350 billion in 2023 to a staggering $1 trillion by 2030, driven by rapid urbanization, digital adoption, and innovative technological solutions, according to the AURUM PropTech report released at India PropTech Summit, 2024. With the urban population expected to reach 680 million by 2047, the market is witnessing a fundamental transformation that extends far beyond traditional real estate paradigms. This population growth necessitates 230 million additional housing units.
Bridging the Demand-supply gap with technology
AURUM PropTech findings identified that 2 crore urban residents across top 8 Indian cities are seeking rental housing, yet only 8 lakhs organized, and institutional rental units exist. This imbalance offers a 25x opportunity to bridge the gap between demand and supply with PropTech-driven rental solutions. The influx of urbanization, changing consumption patterns of Gen-Z and millennials and rapid tech adoption are transforming residential rental real estate in India
