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According to a new research report by RNCOS entitled, “Indian Affordable Housing Market Analysis - The Changing Paradigm”, increasing number of nuclear families has become one of the major reasons for the increasing demand for residential spaces.
 
The emergence of nuclear families, and decrease in average size of families over the last two decades have transformed the picture of housing sector in India. The socio-economical changes in the society are compelling young people to move out from their homes to get jobs in metros for maintaining a better standard of living. According to our report, “India Affordable Housing Industry Outlook to 2022”, growth in the number of nuclear families is leading to an increase in the number of households, especially low income households.
 
Livable residential spaces are the basic need of every household and it becomes even more in urban areas as here households are smaller in size. With more job opportunities in metro cities, rural population migrates to these areas. Also, since few years major trends in marriage and work related stress has altered the structure of families in metro cities. Changing employment scenario and more companies establishing their branches in metro cities has lead to changing scenario of housing demand.
 
Also, increasing cost of living in joint families and unequal distribution of expenses in this setup has also led to switching over to nuclear families. In order to manage expenses and decrease the cost of living, more population is looking for reasonable and affordable living spaces. Hence, based on changing socio-economic factors, the number of nuclear families will rise which will proportionally raise the demand of affordable housing in the country, especially metro cities.
 
As per our analysis, the affordable housing demand is expected to surge at a CAGR of around 10% during 2015-2022, increasing nuclear families being one of the major industry drivers. With rapid urbanization, changing socio-economic scenarios, increasing literacy rate, and desire for better lifestyle, have lead to the emergence of nuclear families and consequently the demand of affordable living spaces.
 
For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM796.htm
 
Check Related REPORTS on: http://www.rncos.com/Other-Industry.htm