20M families living in urban cities and pay 100,000 per year on average. This generates $3Bn in brokerage revenues. There are 1,000,000+ broking entities (individuals, small firms) in the country, who also buy/sell and do commercial transactions to supplement their incomes.
The decade-long surge in rental demand is unprecedented. In mid-2015, 43 million families and individuals lived in rental housing, up nearly 9 million from 2005—the largest gain in any 10-year period on record.
- Harvard University
(Center for Housing Studies)
The property rental market is booming at the expense of the sales market, making it look as if house-buying will be outstripped for the first time in eight decades next year.
- The Guardian
Data collected shows an increase in the proportion of households renting or still paying a mortgage and a dramatic drop in the rate of outright ownership.
- Australian Institute of Health and Welfare
India is one of the worst markets globally for property ownership with Net Return Rate(Rental Returns - Home Loan) of -6.36%. (To feel better Russia is worse at -8.28%).