In 2027, there will likely be 1.65 million high-net worth individuals (HNIs), quadruple the current figure of 850,000. This is according to a report by the real estate consulting firm Anarock. The increase of ultra-high-net-worth individuals (UHNIs), or those with assets worth over $30 million, and HNIs, or those with investable assets of at least $1 million, in 2024 suggests that India is entering a revolutionary period of wealth accumulation.
Due to tech-driven initiatives, IPOs, and start-up unicorns. More than 15% of India’s HNIs are under 30, and 20% of these millionaires are under 40. According to Anarock, as younger entrepreneurs rethink wealth generation, this percentage is anticipated to increase to 25% by 2030.
Growth in Wealth and International Presence
India’s wealthy citizens not just expanding in number but also in global prominence.
India is ranked third in Asia and sixth internationally in terms of UHNI population. Stays right behind only China and Japan.
Population boom: The UHNI count in the nation increased by 6% year to 13,600 in 2024. By 2028, its population is expected to increase by 50%. This significantly exceeds the average growth rate of 30% worldwide.
Over 850,000 HNIs currently reside in India; by 2027. This number is expected to quadruple to 1.65 million. Remarkably, twenty percent of these millionaires are younger than forty.
Second Homes and Real Estate
Luxury residences predominate: Prior to the pandemic, luxury homes accounted for 16% of all sales. But in 2024, that percentage rose to 28%. The top choices are upscale real estate in Bengaluru, Delhi, and Mumbai. This is a popular second-home location are Goa, Alibaug, and Jaipur.
International investments: Dubai, London, and Singapore are the main hotspots for UHNI property ownership. This is almost 14% of them owning properties overseas. In 2024, the average foreign real estate investment was over Rs 12 crore, or $1.44 million.
Green buildings: As sustainability becomes more important. The wealthy buyers are becoming interested in ESG-compliant real estate.
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