With real estate companies worth $36 billion in 2024, India is accelerating to become the real estate capital of Asia, pushing away China in terms of growth rate according to the 2024 GROHE-Hurun India Real Estate 100 report. At a time when China’s real estate market is facing significant headwinds due to government clampdowns and demand slowdown, India’s market benefits from a young population increasing urbanization and a growing middle class. Additionally, the implementation of the Real Estate (Regulation and Development) Act (RERA) has enhanced transparency and accountability, boosting investor confidence.

In contrast, China's market struggles with excess supply, high debt levels among property developers, and strict government regulations making India's real estate sector a more attractive and stable investment destination said the report. “With the middle class projected to reach 547 million by 2030, residential sales are expected to grow 10-12 per cent in FY 2024-25. Rising foreign investments of around US$ 4 billion yearly are further catalysing growth,” said Anas Rahman Junaid, Founder and Chief Researcher, Hurun India.

The number of billion-dollar listed companies in Mainland China plummeted from 100 to just 30. Similarly, in the Hurun China 500, which requires a minimum valuation of $3 billion, the count has sharply fallen from 50 to merely 10. In the list of the top 100, 66 companies focus on the residential sector, followed by 19 in the office sector and .