Business News | Retirement and Second Home Market Size Will Increase to $4 Billion by 2026
India's retirement and second home market segment is expected to grow annually by 23.63 per cent in the next 5 years taking the size of the market to USD 4.021 billion by 2026 from the current size of around USD 1.4 billion, an industry report showed. According to 360 Realtors' latest research report, sales for vacation homes have sky-rocketed in the last couple of years. The COVID-19 pandemic has acted as a catalyst and pushed the demand for second homes and retirement houses in India. The concept of retirement and second home (RSH) started to gain traction in the previous decade. With the lockdowns and travel restrictions, more people have warmed up to this idea. "Second homes have been part of an aspirational lifestyle for a long-time, and with the pandemic changing the real estate market in various ways, the second home industry has come into the spotlight," said Aditya Kushwaha, CEO and Director, Axis Ecorp . Kushwaha said purchasing a second home is often not j