Luxury Homes See 37.8% Sales Spike in 2024

17 Oct 2024 , 01:00 PM

The high-end real estate business in India is rapidly expanding, notably for residential homes priced at Rs 4 crore or more. Sales in this category increased by approximately 37.8% year on year from January to September 2024.

According to CBRE, luxury unit sales in the first nine months of the year were 12,625, up significantly from 9,160 units sold in the same period last year. The key markets for luxury property sales were Delhi-NCR, Mumbai, and Hyderabad, which together accounted for approximately 90% of total sales across the top seven cities.

The increased demand in upscale residential residences can be due to wealthy buyers’ growing preference for higher amenities and larger living areas that complement their various lifestyles.

Furthermore, the growing aspirational generation has significantly fuelled the increase in demand for luxury real estate. Furthermore, the expanding number of non-resident Indian investors and knowledgeable domestic investors have contributed significantly to this development.

For feedback and suggestions, write to us at [e-mail]