Delhi: “It’s very hard to find a city in the country that is not a destination for expats,” said Arvind Sharma, who owns an online travel agency in Delhi.
“People are going to travel to New York or London for business or leisure and spend weeks in Delhi, and then it becomes a destination.”
He added, “I think India is a pretty good place to live, if you don’t want to travel.
But if you want to stay in Delhi for three months, that’s a bit of a struggle.”
The National Institute of Tourism, which is based in New Delhi, estimates that nearly 100 million Indians visited Delhi in 2016.
Of these, almost 50 million spent time in the capital, and nearly one in five lived in a house.
But for those who don’t live in the city, it’s a different story.
“If you live in a city like Delhi, it is easy to find an apartment, a place to stay and a hotel,” said Nitesh Gupta, an economist at ICICI Securities who tracks the Indian housing market.
“But in some areas, you are limited to a certain amount of housing, especially if you have family members or friends.
And even if you do have a good place, you may not be able to find one, especially in Delhi.”
The number of apartments has also fallen drastically, as people have been moving out of the capital.
In May, India’s housing regulator, the Land and Buildings Department, said that a record 1.2 million apartment units had been allotted in the first half of this year.
While this is still a relatively small number, it comes after an increase of just over a million units over the first quarter of this fiscal year.
Even though India’s population is expected to hit one billion by 2028, the country has struggled to attract new housing and development as more people migrate to the city to find work.
The housing shortage in the cities is not just about the lack of affordable housing, however.
The number of rental properties in Delhi has dropped sharply over the past five years, while the average rental price in the national capital has increased by 10% over the same period.
In Mumbai, a city of over 2 million people, the average monthly rental price is more than Rs2,000, a rise of more than 100%.
In New Delhi alone, there are more than 40,000 rental properties, which can cost up to Rs1,200 per month, according to Sharma.
The median rent for an apartment in Delhi is around Rs1.50 lakh, according the Real Estate Board of India.
“The big issue in India is not the lack or lack of housing but the lack and lack of money,” Sharma said.
“It is a problem that is affecting people and families.”
India’s housing market has a long way to go to reach its ambitious goal of creating a population of one billion people by 2030.
The country has the world’s highest per capita housing consumption of over 300,000 people per year.
But with a population that is already over 2 billion people, India is likely to see a significant increase in its housing shortage over the next 10 years.