Housing Market for Senior Citizens to Grow 5x to $12 Billion by 2030, Report Finds
As India’s population ages, the housing market for senior adults, or senior living, might expand five times to $12 billion by 2030 from the $2–3 billion it is now. This information was released in a new report on May 13.
According to Vimal Nadar, senior director and head of research at Colliers India, “the senior living market size in India is estimated to be about $2-3 billion currently, but it is expected to witness a CAGR of more than 30 percent and reach $12 billion by 2030.”
According to the analysis, the percentage of the population that is 60 years of age or older will increase to 21 percent by 2050, and the country’s median age would likely rise from 29 in 2024 to 38 in 2050.
