New Delhi, Oct 12 — India found place among the most compelling long-term growth markets for branded residences, with the number of branded residential projects expected to rise by 126 per cent over the next six years, a report said on Monday.
The report from Savills found rising domestic wealth, expanding metropolitan populations and growing appetite for branded living to shape India’s next phase of growth.
Unlike the predominantly resort-led growth across much of the Asia Pacific region, India’s branded residences expansion is expected to be increasingly driven by major urban centres.
India and Thailand remain important contributors to Asia Pacific's branded residential pipeline, with both countries featuring among the region's top 10 markets by pipeline activity.
The urban orientation of India's market reflects the country's combination of population scale, economic growth and rising aspirational consumption. As branded residences expand across major metropolitan centres, the segment is expected to become increasingly relevant to India's evolving residential landscape.
Across Asia Pacific, the average brand premium increased from 23 per cent to 29 per cent over the past year and the region’s branded residential market is forecast to grow 97 per cent by 2032, with 187 projects expected to be delivered.
"As domestic wealth grows and consumer expectations evolve, we expect quality, service, brand credibility and the strength of the overall residential proposition to become increasingly important in shaping demand for branded residences,” said Shveta Jain, Managing Director, Residential Services, Savills India.
Only 48 per cent of pipeline projects are now in the luxury segment, while upscale projects account for a further 23 per cent, reflecting changing buyer demographics and development economics, with developers and brands increasingly targeting purchasers seeking quality, service and brand association at more accessible price points.
Resorts account for 50 per cent of completed schemes, rising to 65 per cent of projects in the pipeline, supported by the continued appeal of destinations such as Bali and Phuket.