Despite rising property prices and a post-pandemic market correction, sub-₹1 crore homes continue to dominate India’s residential real estate market, accounting for 51% of total sales, according to Ashish Khandelia, Founder of Certus Capital.
In an interview with ETMarkets, Khandelia noted that affordable housing remains a critical segment, driven by strong demand, government incentives, and improved loan eligibility.
While premium housing has seen notable growth, the sub-₹1 crore segment continues to be the backbone of the market, reflecting both enduring affordability and evolving buyer preferences across India’s top cities. Edited Excerpts –
Q) Thanks for taking the time out. CREDAI Natcon 2025 report highlighted that India’s real estate market to touch $5-10 trn by 2047. What are your views?
A) India’s real estate has advanced from a largely unregulated, localized industry to a far more institutionalized market.
The Indian real estate sector has witnessed remarkable growth over the past few decades, driven by urbanization, increasing disposable incomes, demographic changes, govt reforms/initiatives, infra growth and institutional participation.
Real estate sector in India is expected to reach USD 1 trillion in market size by 2030, up from ~USD 200 billion in 2021.
Currently real estate sector contributes ~7-9% to India’s GDP, with projections to reach ~13% by 2030 and ~15% by 2047 in line with some of the mature economies.
As per Niti Ayog, India’s GDP is expected to reach USD 30 trn which could mean India’s real estate sector could potentially reach ~USD 5 trn. It is important to note that within real estate sector, residential is the most dominant sector with strong underlying fundamentals.
Q) Indian REITs offer distribution yields of 6-7%, higher than the US or Singapore. What makes Indian REITs attractive for both domestic and global investors?
A) India’s office market has bucked the global trends of workspace contraction and is a shining beacon on the international office market stage even in the face of global uncertainties and headwinds.
Indian office market posted record highs in the 1HCY25 in terms of absorption levels. Strong India’s office market fundamentals (strong, educated and young workforce, rent arbitrage compared to global peers, sustained economic growth, rising institutional investment, and strong resilience in global office demand) augers well.
GCCs continue to dominate office demand over the last few years underscoring India’s well-established position as a leading global talent hub which was unfazed in the wake of global headwinds.
India’s REIT market has grown steadily since its first listing in 2019, reaching about USD 18 billion in value in August. With three more REITs expected over the next four years, the market could go beyond USD 25 billion.
Indian REITs make an increasingly compelling choice for both domestic and international investors to participate in the Indian office story. Investors favor REITs for their liquidity, transparency, regular income and access to high-grade commercial assets without direct property management.
However, it is important to note that despite the recent surge in the unit prices for listed office REITs, the total pre-tax return (on an annualised basis) is around 10-14% up from 5-10% 12-18months ago.
Q) Do you see a shift in preference toward structured debt, fractional ownership, or REITs among wealthy and institutional investors?
A) Yes, rising domestic wealth is seeking high-return investments with HNI/UHNI increasing their participation in Indian alternative investments.
Alternative industry & private credit market is expected to reach ~USD 238 Bn and ~USD 58 Bn by 2028 resp with CAGR (2024-28f) of ~13-15% and ~23% resp.
There is a noticeable shift among wealthy and institutional investors in India toward structured debt, fractional ownership models, and REITs.
• With growing high net worth population and increasing awareness and understanding of alt. investments, Investors are looking beyond traditional asset classes as investment option for higher yields and low fluctuation.
• Driven by tightening of lending norms of traditional lenders, there is a need for more flexible, tailored financing solutions and demand for private credit solutions. From investors point of view, such structured debt products are appealing because they offer fixed yields and lower risk profiles in a volatile interest rate environment.
• Fractional ownership platforms are gaining traction, allowing groups of investors to co-own Grade A real estate and diversify portfolios without massive capital outlays.
• Growing comfort with tech-enabled platforms, stronger regulatory oversight, and demonstrated performance of listed REITs accelerate this trend.
Overall, the evolution toward REITs, structured debt, and fractional ownership represents a maturing and more diversified investment landscape in Indian real estate.
Still there is significant growth potential ahead- private credit AUM in developed markets ranges from 4-4.5% of GDP compared to 0.5% of GDP in India.
Q) With housing demand resilient post-COVID and interest rates easing, how do you see residential sales trending over the next 12-18 months?
A) In the past few months, residential market has witnessed a correction in sales after an extended runup post-COVID. Real estate cycle has entered stabilisation phase.
This dip was mainly on account of the market taking a breather post this extended runup. Increase in sales price and has resulted in increasing consumer decision time as well.
Developers have also adopted a more cautious approach, emphasizing on project completions and selectively launching projects.
Despite the moderation in sales and the overall macroeconomic headwinds, the overall market remains substantially higher than pre-pandemic levels with sales and launches in 1HCY25 already reaching c.73% and c.84% of CY19 levels resp.
Even with reduction in sales volume, total sales value has steadily grown to INR 1.47 lakh Cr in 1HCY25, amidst rising property prices and a shift towards larger homes.
Strong underlying fundamentals, recent govt/RBI initiatives (repo rate cuts, GST rates) and relatively healthy developer balance sheet suggests stabilization and resilience rather than prolonged weakness in India’s residential real estate market.
Q) How affordable is affordable housing now? How much one need to buy a house in Tier 1 and Tier II cities?
A) Residential housing prices have been consistently rising over the past few years, driven by high land costs and growing demand for larger, premium homes.
Rising construction expenses and inflation have further pushed prices upward, limiting homeownership for many lower- and middle-income families.
Nevertheless, the sub-INR 1 crore segment remains sizeable, accounting for 51% of sales and about 64% of unsold inventory in 1H CY25.
Price Trends:
• Residential prices across top 7 cities have increased at a CAGR of 18.2% over CY22-24, however, price growth over the last 5 years (CY19-24) is moderate at c.9%.
• In the last 5 years (CY19-24), Hyderabad, Bangalore and NCR have seen the highest average price increase between 10.5 – 11.7%, while other cities maintained a moderate 5.8 – 9.4% increase.
• While in recent years (CY22-24), Mumbai, Bangalore, NCR and Hyderabad saw a high avg. price psf growth rate between 18-26%, while the other three cities, Pune, Chennai and Kolkata had a relatively modest growth of between 11-13.5%.
• With improved affordability, driven by lower interest rates, higher loan eligibility and benefits of GST cuts passed on to the buyer, demand across segments, especially in the units priced below INR 1 Cr, is expected to boost.
Q) Global Capability Centers (GCCs) continue to expand in India. How critical is this trend for office market demand?
A) The expansion of Global Capability Centers (GCCs) in India is highly critical for office market demand, serving as a major growth engine in the commercial real estate sector. India currently hosts nearly 1,950 GCCs employing around 1.9 million people.
Major tier I cities such as Bengaluru, Hyderabad, Chennai, Delhi NCR, Mumbai, and Pune house 94% of India’s GCCs, thanks to their strong talent base, progressive policies, and robust infrastructure.
Office Space Demand and Market Impact
• GCCs have leased 180.9 msf over the last 9 years, driving 40% of Indian office growth.
• Bengaluru dominates the GCC landscape capturing 47% of the total GCC leasing in 2024 and accounting for over 41% of demand in 1HCY25.
• GCCs in the BFSI and Manufacturing sectors have been the standout performers, accounting for a cumulative 55.6% share in 1HCY25 leasing activity.
• In the next two years alone, GCCs are likely to lease 60-65 million square feet of Grade A space across the top 7 cities, unlocking significant real estate opportunities, fuelling demand for high-quality spaces, according to Colliers India.
• GCCs have evolved from back-office roles to innovation hubs specializing in digital transformation, R&D, and product development. This transition drives demand for high-quality Grade A, ESG-compliant office space with smart technology systems to attract top talent and enhance productivity.
In conclusion, GCCs are foundational to India’s office real estate market growth. Their rapid expansion, increasing complexity, and broad sector presence fuel rising demand for premium office spaces across India’s major cities.
This trend shapes the future of workspaces, emphasizing innovation, technology, and sustainable buildings.
Q) How will green building norms, ESG mandates, and sustainability-linked financing shape real estate development going forward?
A) Green building norms, ESG mandates, and sustainability-linked financing are transforming real estate development in India, especially in commercial and office sectors. These factors are driving demand for energy-efficient, environmentally friendly, and socially responsible buildings.
• Over 50% of new office completions in India in Q4 2024 were green-certified, and 80-85% of the future pipeline will follow this trend.
• Furthermore, more than 70% of leasing activity in Q4 2024 took place in green-certified buildings, underscoring ESG compliance as a central occupier requirement.
• Green-certified buildings command rent premiums of 18-22% on traditional Grade A offices, and flex spaces with green features can command even higher premiums of 47-50%, signalling strong market preference and higher returns.
• GCCs and multinational tenants require offices that meet global sustainability standards , making ESG compliance not just a regulatory checkbox but a core leasing requirement.
• Sustainability-linked financing is encouraging developers to prioritize green projects, rewarding them with better capital costs and attracting ESG-focused investors, accelerating adoption of green design and construction.
Green building norms, ESG mandates, and sustainability-linked finance will increasingly define the next generation of Indian real estate projects. These trends enhance asset value, reduce operational costs and environmental impact, and position India’s real estate market competitively in a global ESG-conscious investment landscape.
Q) Private equity inflows into Indian real estate remain strong—what asset classes are attracting the most global capital today?
A) Since CY22, annual investments in the real estate market have consistently surpassed the USD 5 billion threshold.
• Institutional investments reached a record-high of USD 8.9 bn across 78 deals in CY24, growing at a rate of 30% CAGR since CY21.
• 1H CY25 investments have already reached ~76% of total investments in CY21 despite a moderation of 37% y-o-y.
• Equity investments remain the dominant route for investments in the real estate sector, comprising a 78% share of the total investments.
• Residential and office sectors attracted equal share of total investments at 38% and 37% in 1H CY25, marking a notable change from previous years when investments in the office sector dominated.
• Foreign investors have continued to demonstrate a strong preference for office assets. 1H CY25 saw the office sector attract investments of roughly USD 1.1 billion across 10 transactions, maintaining similar investment levels to H1 2024.
Q) What are the key challenges that you face in the real estate industry?
A) Economic and Market Volatility
• Slowdown in GDP growth and global uncertainties may temper demand.
• Inflation and fluctuating interest rates affect affordability for homebuyers and increase borrowing costs for developers.
Affordability and Market Shifts
• Rising property prices outpace income growth, making homeownership difficult for middle-income buyers.
• Changes in buyer preferences, rental market dynamics, and demand for luxury versus affordable housing segments require developers to stay agile.
• Increased construction and material costs strain developers and can delay projects, impacting supply and pricing.
Regulatory and Legal Complexities
• Diverse state regulations, zoning laws, and property rights issues lead to approval delays and stall supply.
• New digital land registry rules require adaptation to technologies like blockchain and biometric verification but promise improved transparency.
Infrastructure and Urbanization Challenges
• Urban growth often outpaces infrastructure development, causing congestion and affecting the livability of areas.
In summary, while the Indian real estate sector shows strong growth potential, it must navigate affordability issues, regulatory complexity, economic volatility, and infrastructure gaps to gain long-term success.
Q) With increasing digitization and global exposure, how are UHNIs and HNIs changing their approach towards real estate as an asset class?
A) India’s UHNIs and HNIs are strategically rebalancing their portfolios through greater diversification, global exposure, and professional management by showing increased interest in credit-backed opportunities, and structured investments such as AIFs.
Credit and Structured Investment Trends
• HNIs/UHNIs increasingly use credit platforms and private debt funds to gain exposure to real estate asset classes, seeking fixed yields and asset-backed security, beyond traditional ownership.
• AIFs have emerged as a leading channel; real estate is the top recipient of AIF investment in 2025, INR 69,896 Crores (13%) as of March 31, 2025 . HNIs and UHNIs increasingly use AIFs to invest indirectly in high-quality real estate, attracted by hassle-free, professionally managed exposure and stable fixed income.
• Domestic investors now comprise 59% of total AIF capital in real estate, reflecting rising HNI/UHNI wealth and active engagement in structured alternative investments.
• This marks a major shift from historic reliance on foreign inflows, fostering greater market familiarity, regulatory comfort, and confidence in local opportunities.
Increased allocation to Real Estate:
• Real estate is the second-most preferred asset class after equities for UHNIs, averaging 29% of their portfolio, reflecting renewed faith in property as a capital preservation and income generation asset.
• Among real estate asset classes, residential real estate remains the preferred choice, marked by the multi-year upcycle the sector witnessed in the years post-Covid. Even with the current moderation in the industry, the market is substantially higher than pre-pandemic levels and fundamentals remain strong.
• Premium housing demand in India has surged. In 1HCY25, sales of homes worth INR 2-5 Cr and INR 5-10 Cr saw a 28% and 31% y-o-y growth respectively, accounting for 21% of total sales in the half year.
• Commercial Real Estate is also viewed as a superior asset class for long-term income generation. Indian HNIs and UHNIs are actively adding REITs to their portfolios, attracted by liquidity, transparency, and institutional-grade property access.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
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Sub-Rs 1 cr homes still dominate India’s housing market at 51% of sales: Certus Capital Founder Ashish Khandelia
in UncategorizedIn an interview with ETMarkets, Khandelia noted that affordable housing remains a critical segment, driven by strong demand, government incentives, and improved loan eligibility.
While premium housing has seen notable growth, the sub-₹1 crore segment continues to be the backbone of the market, reflecting both enduring affordability and evolving buyer preferences across India’s top cities. Edited Excerpts –
Q) Thanks for taking the time out. CREDAI Natcon 2025 report highlighted that India’s real estate market to touch $5-10 trn by 2047. What are your views?
A) India’s real estate has advanced from a largely unregulated, localized industry to a far more institutionalized market.
The Indian real estate sector has witnessed remarkable growth over the past few decades, driven by urbanization, increasing disposable incomes, demographic changes, govt reforms/initiatives, infra growth and institutional participation.
Real estate sector in India is expected to reach USD 1 trillion in market size by 2030, up from ~USD 200 billion in 2021.
Currently real estate sector contributes ~7-9% to India’s GDP, with projections to reach ~13% by 2030 and ~15% by 2047 in line with some of the mature economies.
As per Niti Ayog, India’s GDP is expected to reach USD 30 trn which could mean India’s real estate sector could potentially reach ~USD 5 trn. It is important to note that within real estate sector, residential is the most dominant sector with strong underlying fundamentals.
Q) Indian REITs offer distribution yields of 6-7%, higher than the US or Singapore. What makes Indian REITs attractive for both domestic and global investors?
A) India’s office market has bucked the global trends of workspace contraction and is a shining beacon on the international office market stage even in the face of global uncertainties and headwinds.
Indian office market posted record highs in the 1HCY25 in terms of absorption levels. Strong India’s office market fundamentals (strong, educated and young workforce, rent arbitrage compared to global peers, sustained economic growth, rising institutional investment, and strong resilience in global office demand) augers well.
GCCs continue to dominate office demand over the last few years underscoring India’s well-established position as a leading global talent hub which was unfazed in the wake of global headwinds.
India’s REIT market has grown steadily since its first listing in 2019, reaching about USD 18 billion in value in August. With three more REITs expected over the next four years, the market could go beyond USD 25 billion.
Indian REITs make an increasingly compelling choice for both domestic and international investors to participate in the Indian office story. Investors favor REITs for their liquidity, transparency, regular income and access to high-grade commercial assets without direct property management.
However, it is important to note that despite the recent surge in the unit prices for listed office REITs, the total pre-tax return (on an annualised basis) is around 10-14% up from 5-10% 12-18months ago.
Q) Do you see a shift in preference toward structured debt, fractional ownership, or REITs among wealthy and institutional investors?
A) Yes, rising domestic wealth is seeking high-return investments with HNI/UHNI increasing their participation in Indian alternative investments.
Alternative industry & private credit market is expected to reach ~USD 238 Bn and ~USD 58 Bn by 2028 resp with CAGR (2024-28f) of ~13-15% and ~23% resp.
There is a noticeable shift among wealthy and institutional investors in India toward structured debt, fractional ownership models, and REITs.
• With growing high net worth population and increasing awareness and understanding of alt. investments, Investors are looking beyond traditional asset classes as investment option for higher yields and low fluctuation.
• Driven by tightening of lending norms of traditional lenders, there is a need for more flexible, tailored financing solutions and demand for private credit solutions. From investors point of view, such structured debt products are appealing because they offer fixed yields and lower risk profiles in a volatile interest rate environment.
• Fractional ownership platforms are gaining traction, allowing groups of investors to co-own Grade A real estate and diversify portfolios without massive capital outlays.
• Growing comfort with tech-enabled platforms, stronger regulatory oversight, and demonstrated performance of listed REITs accelerate this trend.
Overall, the evolution toward REITs, structured debt, and fractional ownership represents a maturing and more diversified investment landscape in Indian real estate.
Still there is significant growth potential ahead- private credit AUM in developed markets ranges from 4-4.5% of GDP compared to 0.5% of GDP in India.
Q) With housing demand resilient post-COVID and interest rates easing, how do you see residential sales trending over the next 12-18 months?
A) In the past few months, residential market has witnessed a correction in sales after an extended runup post-COVID. Real estate cycle has entered stabilisation phase.
This dip was mainly on account of the market taking a breather post this extended runup. Increase in sales price and has resulted in increasing consumer decision time as well.
Developers have also adopted a more cautious approach, emphasizing on project completions and selectively launching projects.
Despite the moderation in sales and the overall macroeconomic headwinds, the overall market remains substantially higher than pre-pandemic levels with sales and launches in 1HCY25 already reaching c.73% and c.84% of CY19 levels resp.
Even with reduction in sales volume, total sales value has steadily grown to INR 1.47 lakh Cr in 1HCY25, amidst rising property prices and a shift towards larger homes.
Strong underlying fundamentals, recent govt/RBI initiatives (repo rate cuts, GST rates) and relatively healthy developer balance sheet suggests stabilization and resilience rather than prolonged weakness in India’s residential real estate market.
Q) How affordable is affordable housing now? How much one need to buy a house in Tier 1 and Tier II cities?
A) Residential housing prices have been consistently rising over the past few years, driven by high land costs and growing demand for larger, premium homes.
Rising construction expenses and inflation have further pushed prices upward, limiting homeownership for many lower- and middle-income families.
Nevertheless, the sub-INR 1 crore segment remains sizeable, accounting for 51% of sales and about 64% of unsold inventory in 1H CY25.
Price Trends:
• Residential prices across top 7 cities have increased at a CAGR of 18.2% over CY22-24, however, price growth over the last 5 years (CY19-24) is moderate at c.9%.
• In the last 5 years (CY19-24), Hyderabad, Bangalore and NCR have seen the highest average price increase between 10.5 – 11.7%, while other cities maintained a moderate 5.8 – 9.4% increase.
• While in recent years (CY22-24), Mumbai, Bangalore, NCR and Hyderabad saw a high avg. price psf growth rate between 18-26%, while the other three cities, Pune, Chennai and Kolkata had a relatively modest growth of between 11-13.5%.
• With improved affordability, driven by lower interest rates, higher loan eligibility and benefits of GST cuts passed on to the buyer, demand across segments, especially in the units priced below INR 1 Cr, is expected to boost.
Q) Global Capability Centers (GCCs) continue to expand in India. How critical is this trend for office market demand?
A) The expansion of Global Capability Centers (GCCs) in India is highly critical for office market demand, serving as a major growth engine in the commercial real estate sector. India currently hosts nearly 1,950 GCCs employing around 1.9 million people.
Major tier I cities such as Bengaluru, Hyderabad, Chennai, Delhi NCR, Mumbai, and Pune house 94% of India’s GCCs, thanks to their strong talent base, progressive policies, and robust infrastructure.
Office Space Demand and Market Impact
• GCCs have leased 180.9 msf over the last 9 years, driving 40% of Indian office growth.
• Bengaluru dominates the GCC landscape capturing 47% of the total GCC leasing in 2024 and accounting for over 41% of demand in 1HCY25.
• GCCs in the BFSI and Manufacturing sectors have been the standout performers, accounting for a cumulative 55.6% share in 1HCY25 leasing activity.
• In the next two years alone, GCCs are likely to lease 60-65 million square feet of Grade A space across the top 7 cities, unlocking significant real estate opportunities, fuelling demand for high-quality spaces, according to Colliers India.
• GCCs have evolved from back-office roles to innovation hubs specializing in digital transformation, R&D, and product development. This transition drives demand for high-quality Grade A, ESG-compliant office space with smart technology systems to attract top talent and enhance productivity.
In conclusion, GCCs are foundational to India’s office real estate market growth. Their rapid expansion, increasing complexity, and broad sector presence fuel rising demand for premium office spaces across India’s major cities.
This trend shapes the future of workspaces, emphasizing innovation, technology, and sustainable buildings.
Q) How will green building norms, ESG mandates, and sustainability-linked financing shape real estate development going forward?
A) Green building norms, ESG mandates, and sustainability-linked financing are transforming real estate development in India, especially in commercial and office sectors. These factors are driving demand for energy-efficient, environmentally friendly, and socially responsible buildings.
• Over 50% of new office completions in India in Q4 2024 were green-certified, and 80-85% of the future pipeline will follow this trend.
• Furthermore, more than 70% of leasing activity in Q4 2024 took place in green-certified buildings, underscoring ESG compliance as a central occupier requirement.
• Green-certified buildings command rent premiums of 18-22% on traditional Grade A offices, and flex spaces with green features can command even higher premiums of 47-50%, signalling strong market preference and higher returns.
• GCCs and multinational tenants require offices that meet global sustainability standards , making ESG compliance not just a regulatory checkbox but a core leasing requirement.
• Sustainability-linked financing is encouraging developers to prioritize green projects, rewarding them with better capital costs and attracting ESG-focused investors, accelerating adoption of green design and construction.
Green building norms, ESG mandates, and sustainability-linked finance will increasingly define the next generation of Indian real estate projects. These trends enhance asset value, reduce operational costs and environmental impact, and position India’s real estate market competitively in a global ESG-conscious investment landscape.
Q) Private equity inflows into Indian real estate remain strong—what asset classes are attracting the most global capital today?
A) Since CY22, annual investments in the real estate market have consistently surpassed the USD 5 billion threshold.
• Institutional investments reached a record-high of USD 8.9 bn across 78 deals in CY24, growing at a rate of 30% CAGR since CY21.
• 1H CY25 investments have already reached ~76% of total investments in CY21 despite a moderation of 37% y-o-y.
• Equity investments remain the dominant route for investments in the real estate sector, comprising a 78% share of the total investments.
• Residential and office sectors attracted equal share of total investments at 38% and 37% in 1H CY25, marking a notable change from previous years when investments in the office sector dominated.
• Foreign investors have continued to demonstrate a strong preference for office assets. 1H CY25 saw the office sector attract investments of roughly USD 1.1 billion across 10 transactions, maintaining similar investment levels to H1 2024.
Q) What are the key challenges that you face in the real estate industry?
A) Economic and Market Volatility
• Slowdown in GDP growth and global uncertainties may temper demand.
• Inflation and fluctuating interest rates affect affordability for homebuyers and increase borrowing costs for developers.
Affordability and Market Shifts
• Rising property prices outpace income growth, making homeownership difficult for middle-income buyers.
• Changes in buyer preferences, rental market dynamics, and demand for luxury versus affordable housing segments require developers to stay agile.
• Increased construction and material costs strain developers and can delay projects, impacting supply and pricing.
Regulatory and Legal Complexities
• Diverse state regulations, zoning laws, and property rights issues lead to approval delays and stall supply.
• New digital land registry rules require adaptation to technologies like blockchain and biometric verification but promise improved transparency.
Infrastructure and Urbanization Challenges
• Urban growth often outpaces infrastructure development, causing congestion and affecting the livability of areas.
In summary, while the Indian real estate sector shows strong growth potential, it must navigate affordability issues, regulatory complexity, economic volatility, and infrastructure gaps to gain long-term success.
Q) With increasing digitization and global exposure, how are UHNIs and HNIs changing their approach towards real estate as an asset class?
A) India’s UHNIs and HNIs are strategically rebalancing their portfolios through greater diversification, global exposure, and professional management by showing increased interest in credit-backed opportunities, and structured investments such as AIFs.
Credit and Structured Investment Trends
• HNIs/UHNIs increasingly use credit platforms and private debt funds to gain exposure to real estate asset classes, seeking fixed yields and asset-backed security, beyond traditional ownership.
• AIFs have emerged as a leading channel; real estate is the top recipient of AIF investment in 2025, INR 69,896 Crores (13%) as of March 31, 2025 . HNIs and UHNIs increasingly use AIFs to invest indirectly in high-quality real estate, attracted by hassle-free, professionally managed exposure and stable fixed income.
• Domestic investors now comprise 59% of total AIF capital in real estate, reflecting rising HNI/UHNI wealth and active engagement in structured alternative investments.
• This marks a major shift from historic reliance on foreign inflows, fostering greater market familiarity, regulatory comfort, and confidence in local opportunities.
Increased allocation to Real Estate:
• Real estate is the second-most preferred asset class after equities for UHNIs, averaging 29% of their portfolio, reflecting renewed faith in property as a capital preservation and income generation asset.
• Among real estate asset classes, residential real estate remains the preferred choice, marked by the multi-year upcycle the sector witnessed in the years post-Covid. Even with the current moderation in the industry, the market is substantially higher than pre-pandemic levels and fundamentals remain strong.
• Premium housing demand in India has surged. In 1HCY25, sales of homes worth INR 2-5 Cr and INR 5-10 Cr saw a 28% and 31% y-o-y growth respectively, accounting for 21% of total sales in the half year.
• Commercial Real Estate is also viewed as a superior asset class for long-term income generation. Indian HNIs and UHNIs are actively adding REITs to their portfolios, attracted by liquidity, transparency, and institutional-grade property access.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
Historic ‘Hair’ composer’s Silver Lake estate hits market for $3.25M | Staten Island Home of the Week
in UncategorizedSTATEN ISLAND, N.Y. — For the first time in over 50 years, a historic hilltop estate in Staten Island’s coveted Silver Lake neighborhood is available for purchase at $3.25 million, according to the Staten Island Multiple Listing Services, MLSSINY.com listing.
The six-bedroom Colonial brick home at 12 Silver Lake Road was the longtime residence of Galt MacDermot, the legendary composer behind the Broadway musical “Hair,” according to the listing realtor Michele Connelly of Neuhaus Realty, Inc.
This unique home became a quiet hub for creativity, where MacDermot composed, mentored, and even collaborated with artists later in life.
Built in 1925, the stately former schoolhouse spans approximately 7,050 square feet, including a finished attic and partially finished cellar.
The property stands as a testament to enduring craftsmanship and architectural grace, with rich period details awaiting restoration or thoughtful modernization, mentioned in the listing.
The home’s grand two-story entry foyer leads to a formal living room with a fireplace that opens to a sun-filled home office,
The main level also features a formal dining room, charming sunroom, spacious eat-in kitchen with walk-in pantry, two additional versatile rooms, and a half bath.
Upstairs, accessible by either the main staircase or the back staircase, the primary suite boasts a walk-in closet, private bath, and access to a large balcony. Three additional bedrooms — one with its own balcony — plus a sunroom and two full bathrooms complete the second floor. The finished attic provides extra living space with an additional bathroom.
Set on an expansive 23,212-square-foot hillside lot, the property includes a detached brick two-car garage with a 300-square-foot apartment above. From its elevated position, the estate offers seasonal views of Manhattan, a serene atmosphere, and proximity to parks, golf, and Staten Island’s cultural destinations.
Virtual Tour: https://app.doaudiotours.com/unbranded?id=12339&lang=en-US
Generative AI was used to structure and draft this story, based on data provided by the property listing. It was reviewed and edited by the Advance/SILive.com staff.
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The ‘best time’ to buy a home is right around the corner. Here’s what you need to know
in UncategorizedThe housing market has been particularly brutal the past couple of years. While the pandemic ushered in an era of sub-3% mortgage rates, those climbed to levels peaking at 8% in October 2023. Current mortgage rates are still hovering around the low-6% range and home prices are 55% higher than they were at the beginning of 2020, according to the Case-Shiller U.S. National Home Price Index.
But the U.S. housing market is slowly but surely moving in favor of buyers. Mortgage applications surged nearly 30% last week, according to the Mortgage Bankers Association. Home prices are also starting to plateau and even drop in some markets.
“For prospective buyers who have been waiting on the sidelines, the housing market is finally starting to listen,” First American chief economist Mark Fleming wrote in an Aug. 29 First American post.
Considering those factors, among others, the “best time” to buy a home this year is right around the corner, according to a Realtor.com report published this week. Realtor.com says the week of Oct. 12-18 will be 2025’s “sweet spot” for home shoppers thanks to a “rare combination” of higher inventory levels, lower home prices, and less competition. For the report, Realtor.com analyzed six supply-and-demand metrics at a national and metro level that follow seasonal patterns using data from 2018 to 2024.
“After years of constrained conditions, the 2025 housing market is giving buyers something they haven’t had in a long time: options,” Danielle Hale, Realtor.com chief economist, said in a statement. “I expect this market momentum shift to magnify typical seasonal trends that favor homebuyers in the fall.”
While spring is historically considered the peak homebuying season, there is usually more competition and higher prices during that time of the year. Realtor.com data suggests there will be 32.6% more homes for sale than at the beginning of 2025, home prices could be up to $15,000 lower than a median-priced home during peak season, and there’s potential for 30.6% less competition than peak homebuying season during the week of Oct. 12-18.
“In addition to the seasonal bump in inventory, it’s also a smart window to go under contract before the holidays,” Steph Mahon, owner of real-estate firm Dwell New Jersey, told Fortune. “By moving now, you can complete inspections, loan paperwork, and other due-diligence tasks ahead of Thanksgiving, avoiding the added stress of juggling it all during the holiday season.”
Buying season varies by market
Although the overall best week to buy a home in the U.S. is Oct. 12-18, that timing varies some based on geography. The national “best week” applies to many metro areas like Houston, Los Angeles, and Washington, D.C., but some may be earlier or later, according to Realtor.com. Of the 50 largest U.S. metros, 45 will experience their best time to buy within a month of the national average.
New York, Philadelphia, Chicago, Atlanta, and Dallas will see more buyer-friendly conditions starting in September.
In Manhattan, “September happens to simultaneously be the month that experiences both the highest new supply to come on the market and the lowest contract activity volume being recorded,” Noah Rosenblatt, CEO and cofounder of real-estate analytics firm UrbanDigs, told Fortune.
Florida markets including Miami and Tampa, however, can peak as late as December, Realtor.com data shows. In fact, Philadelphia and Milwaukee already had their “best weeks” from September 7-13.
In South Florida, buying season “is coming both for seasonal renters who purchase, snowbirds and families who want to be in for the winter,” Jeff Lichtenstein, CEO and broker at Echo Fine Properties in West Palm Beach, told Fortune. “We’ve seen a three-and-a-half-year pent up demand period, so it’s just ripe.”
Other early starts include Hartford, Conn., Memphis, Tenn., and Virginia Beach, Va. But for homebuyers looking in Charlotte, N.C., Louisville, Ken., Phoenix, Miami, or Tampa, November will likely be your best bet, according to Realtor.com data.
“Get your preapprovals done and understand out-of-state contracts if making a move,” Lichtenstein said. “Expect more competition so the more ready you are, the less likely you are okay to pull the trigger and not lose a house.”
LeBoeuf Township home could be the home of your dreams
in UncategorizedWill federal interest rate cut help the housing market?
in UncategorizedVermont Real Estate Market: Recent Sales Report | Real Estate
in UncategorizedStock photo
Key:
Town:
Address
Acres-Price
Seller to Buyer
Alburgh:
349 South Main St.
0.31-$125,000
Estate of Ezra A. Pickup Jr. to Loreen Forastiere Estate
2719 Us Route 2 North
10.18-$350,000
Juanita Artman to Mary Martell
Bakersfield:
200 Sunset View Dr.
2.17-$700,000
Shaun Montague to Neil Bernier
Enosburg:
4310 Enosburg Mountain Road
31.06-$385,000
Nathan Wolfe to Jeremy Hollinger
Fairfax:
25 Fletcher Road Unit 107
$285,000
Marguerite Warner to Erik Swan
47 Leach Road
0.57-$450,000
Shaun Coleman to Benjamin Tubbs
Fairfield:
59 Mable Dr.
3.2-$554,000
Thomas Martello to Tyson Gillespie
850 Barry Road
32.0-$510,000
Travis Rich to Christopher Huston
Fletcher:
570 Slattery Road
5.64-$525,000
Julie Macmillan to Kyle Buck
4110 Fairfield Road
2.0-$370,000
Joshua Brown to Kai Smith
187 High Meadow Road
6.89-$647,500
Deanna Kennedy to Calob Russin
Franklin:
172 Vics Crossing
0.16-$200,000
Dana Kennison to Calista Roussos
Georgia:
6 Sand Hill Road
1.25-$620,500
Holly Horvath to Tom Johnston
Lot 5, Radhard Dr.
1.0-$200,000
Renovermont LLC. to Miles Trudell
31 Allen Road
0.51-$627,000
Davis Provost to Blaz Mihaljevic
Montgomery:
220 Green Mountain Road
5.53-$535,000
Timothy Murphy to Anthony Gervais
3539 West Hill Road
11.8-$335,000
Merle Van Gieson to Tiffany Jones
1375 North Hill Road
23.1-$145,000
Sean Gregorek to Jon Cecil
1246 North Main St.
16.62-$409,300
Maryanne Wood to John Barnes
1749 Regan Road
27.97-$211,000
Mark Bulman to Daniel Jackson
1012 Mountain Road
0.72-$330,000
Alan Cennamo to Peter Newman
Sheldon:
695 Vermont Route 105
10.2-$402,000
Vince Catlin to Brian Church
St. Albans City:
2 Lakeview Terrace
0.22-$390,000
Patrick Singleton to James Hall
21 Brown Ave.
0.24-$517,500
Revocable Trust Agreement of Robert A. Cioffi to Owen Cioffi
29 Adams St.
0.26-$409,000
Amanda Gauthier to Justin Boncher
7 Quintin Court
0.44-$409,000
Jeremy Lawyer to Ruby Lynn Bates
16-18 Bishop St.
0.12-$239,241.73
Amy Burleson to Rail City Properties, LLC.
42 Messenger St.
0.2-$385,000
Weinstein Family Trust to Spencer Marquis
14 Howard Estates
0.16-$270,000
Ruth Ste. Marie to Ellen Walters
63 Bank St.
0.17-$525,000
Michael Ly to Ryan Patrick Benton
32 South Main St. Unit 6
$199,000
Anna Jackson to Nicholas J. Reale and Shelly S. Reale Trust
166 North Main St.
0.39-$475,000
Michael J. Gosselin Rentals II, LLC. to Takafumi Sato
3 Finn Ave.
0.26-$315,000
Howard Atherton to Craig Charles
66 Messenger St.
0.09-$437,500
Ashley Lopez to Calvin Bratcher
6 Donnelly Court
0.39-$359,000
Karen Phenix to Grace Krause
83 Lower Newton Road
1.22-$400,000
Macharia Webster to Cory Paya
13 Bishop St.
0.27-$381,000
Revocable Trust Agreement of Robert A. Cioffi to Mohammed Omar
133 HIgh St.
$318,000
Daniel Woolsey to Katie Woolsey
22 South Elm St.
0.17-$375,000
Chad Spooner to Jensen Spooner
16 Walnut St.
0.45-$354,900
Sonya Cueto to Christopher Berard
158 Pearl St.
0.66-$290,750
Richard Snay II to David Hill Diamantis
100 Congress St.
0.45-$535,000
James Stile to Bridget Murray
24 Huntington St.
0.39-$329,000
Jordan James Robert O’Grady to Emily Belanger
St. Albans Town:
19 Hill Farm Estates
0.61-$485,000
Michael J. Smullen and Amanda A. Smullen Revocable Trust to Ryan Wimble
540 South Main St.
6.11-$537,300
Eric Wade Hutchinson Estate to Tyler Holden
28 Allaire Dr.
0.6-$450,000
Lori Kathryn Holton to Thomas Facteau
10 James Circle
$164,000
Ronald Hathaway to Jeff Donna
147 Brigham Road
0.5-$399,000
Kimberly Gooding to Jamie Chicoine
Swanton:
149 Middle Road
2.0-$228,000
Normand Pigeon to Michel Pigeon
57 St. Albans Road
0.8-$150,000
Stephen Pacquette to Renee Loiselle
325 Maquam Shore Road
2.03-$480,000
Scott Colan to Heather Sheridan
Real Estate Market Report (August) – The Current
in UncategorizedFor long-term real estate data, click here.
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Feds Seek Dutchess, Putnam Voter Data
Type: News
News: Based on facts, either observed and verified directly by the reporter, or reported and verified from knowledgeable sources.
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Exclusive: RCP Taps Veteran Real Estate Expert David Wilson To Lead Mixed-Use Assets
in UncategorizedThe Huntsville Business Journal has learned exclusively that RCP Companies, a leading mixed-use real estate development and investment firm, has appointed David Wilson, MAI as its new Director of Mixed-Use Assets.
In this role, Wilson will lead the strategic direction and overall asset management of RCP’s mixed-use portfolio, ensuring properties align with long-term investment goals, maximizing value, and guiding the launch of the company’s vertically integrated property management platform.
Wilson brings more than 37 years of expertise in commercial real estate, with deep experience across multifamily and mixed-use investment, asset strategy, and market research. Originally from Dallas, Texas, Wilson began his career at the corporate offices of the nation’s largest residential mortgage company before transitioning into commercial real estate appraisal in Dallas, where he gained extensive knowledge across multiple property sectors.
In 1994, Wilson established The David Wilson Company (DWC) in Huntsville, which grew to become one of North Alabama’s largest appraisal, research, and consulting firms. Through DWC, he produced the first comprehensive and recurring multifamily market surveys for Alabama’s largest cities, laying the groundwork for a career focused on advancing the state’s multifamily sector.
Wilson later joined Rock Apartment Advisors as a multifamily investment sales agent and in 2014 began a decade as a broker with Berkadia Real Estate Advisors, the nation’s largest brokerage firm dedicated exclusively to multifamily. Berkadia’s Alabama office consistently ranked among the highest-producing offices nationwide for many years. In 2021, Wilson became Broker of Record for Berkadia’s Alabama office, specializing in new construction, institutional, and Class B apartments. Across the various companies, he has continued to produce an extensive report on Huntsville’s multifamily market twice a year for the past 27 years.
“David’s unparalleled knowledge of Alabama’s multi-family and real estate markets, combined with his track record of building value and trust across the industry, makes him an ideal leader as we expand our mixed-use platform,” said Max Grelier, Co-Founder, RCP Companies. “His expertise will be critical as we continue to position our mixed-use portfolio for long-term success and operational excellence.”
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Recession or a righting? Maryland’s housing market is cooling off
in UncategorizedTerrieLea Blueitt thought her home would sell in a week. But in one year, she said, maybe ten people have come to see it. And data out of the state’s Realtor association shows the housing market is cooling in general.
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Heading into Autumn: What’s Hot (and What’s Changing) in the Newport Real Estate Market
in UncategorizedAs summer winds down and fall rolls in, Newport’s real estate market is entering a pivotal phase — one that could set the tone for the end of the year. Between shifts in inventory, buyer behavior, and pricing, both buyers and sellers are seeing changes that are already starting to shape the market.
While values are rising, median days to go pending are hovering in the high 30s. That suggests buyers are being more selective, and homes aren’t flying off the market quite as fast as during peak summer frenzy.
2. Supply is Tight, Especially Under $1 Million
Inventory remains constrained, especially in more affordable price bands. Homes in the $400,000-$700,000 range are showing strong demand, but choices are limited. Sellers in this range are in a good position — with the right pricing and presentation, homes tend to attract serious interest quickly.
3. Luxury & Second-Home Market Activity Remains Strong
Newport has long been a destination for second homes, vacation properties, and luxury buyers. As some homeowners who benefited from equity gains over recent years opt to sell, there’s an increase in high-end listings. Also, with seasonal moves (snowbirds, etc.), many buyers are actively looking now to lock in before winter.
4. Fall Lifestyle & Design are Playing a Big Role
It’s not just about location or square footage this year. A recent trend: buyers are looking for homes that evoke comfort, warmth, and lifestyle. Think: cozy interiors, updated kitchens, flexible spaces (home offices, studios), outdoor areas that work even as the weather cools. Homes that present well in autumn — both inside and out — are standing out.
5. Interest Rate Sensitivity & Buyer Timing
Potential buyers are keeping a close eye on mortgage rates and economic signals. With a possibility of interest rate changes, many want to lock something in now rather than wait. Sellers, similarly, are weighing whether to list now to capture the current demand or wait, hoping for more favorable conditions. Timing will matter a lot.
If you’re considering buying, selling, or just curious where the market is headed, now is the time to engage with trusted local experts who truly know the Newport landscape.
Presented by The Dowd Team — your Newport real estate specialists. Reach out if you want a personalized market analysis, tips for staging, or guidance on timing your move.
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