New Delhi, Nov 8 (UNI) Housing prices in India are expected to rise by 5-10 pc annually over the next few years, said a report of Confederation of Indian Industry (CII) and Colliers.

This sectoral price surge is attributed to the strong demand driven by the growing working-age population, urbanisation, and rising incomes.

The report said, “Residential demand is projected to reach around 5,00,000 units annually by 2030 and could double to one billion by 2047. This growth will be supported by favourable demographics, increasing household incomes, and supportive housing policies.”

Moreover, affordable housing is expected to see steady demand as the median age aligns with homeownership trends. Simultaneously, an ageing population is likely to boost the need for senior living facilities.

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