SR News Update- Surge in Sales of Homes Over Rs 4 Crore- Find Out the Top Cities

SR News Update- Surge in Sales of Homes Over Rs 4 Crore- Find Out the Top Cities

In a remarkable turn, the sale of homes priced at ?4 crore and above has witnessed a staggering 97% year-on-year increase in India's seven major cities during the period of January to September 2023, as reported by real estate firm CBRE.

Delhi-NCR, Mumbai, and Hyderabad have emerged as the hotspots, contributing to a significant 90% share of total luxury housing sales. Delhi-NCR alone accounted for 37% of the sales, followed by Mumbai at 35% and Hyderabad at 18%, with Pune making up the remaining 4%.

Factors Fueling the Surge

Several factors, including a robust economy, rising disposable incomes, a desire for elevated living standards, and a scarcity of luxury residences in major metropolitan areas, have fueled this surge in luxury housing sales.

CBRE anticipates further growth in luxury housing sales during the festive season from October to December. The firm predicts an increase in first-time luxury home buyers during this quarter, citing rising aspirations, a growing Indian economy, and incentives provided by developers as key contributors to this spike.

According to CBRE, factors such as economic growth, favorable regulatory measures, and evolving lifestyle preferences are expected to drive a surge in residential sales and new launches within the premium and luxury housing segment. The report even suggests the possibility of reaching a 10-year high in 2023.

HNIs and NRIs Leading the Trend

The post-pandemic demand for more spacious living, coupled with the integration of smart home technology and developer-backed incentives, is identified as a significant driver behind the ongoing boom in luxury home sales. CBRE notes that this trend is particularly pronounced among high-net-worth individuals (HNIs) and non-resident Indians (NRIs) seeking secure and rewarding investment opportunities.

In conclusion, these trends signify a growing prominence of luxury homes within the Indian real estate market, establishing them as an increasingly vital segment.

Keep reading SURFACES REPORTER for more such articles and stories.

You may also like to read about:

Sagrada Familias Towers Reach Completion After 140-Year Journey | Barcelona

Indias Pressing Need for 2 Billion Square Feet of Healthcare Infrastructure- Latest Report Says

French Kitsch Unveils a Playful Culinary Haven Celebrating Imperfection in Design | Thailand

and more...

×
×

Post Your Comment


"Content that powers your Business. News that keeps you informed."

Surfaces Reporter is one of India's leading media in Print & Digital Telecast for News on Interiors & Architecture Projects, Products, Building Materials, and the Business of Design! Since 2011, it serves as a referral for designers & architects to know about inspiring projects and source new products. If you have a Product or Project worth publishing in Surfaces Reporter, please email us hello@surfacesreporter.com or you can also submit your project online.

Like Surfaces Reporter on Facebook | Follow us on Twitter and Instagram | Subscribe to our magazine | Sign Up for the FREE Surfaces Reporter Magazine Newsletter

NRIs Increase Investment in Indian Real Estate Amid Growing Demand for Luxury Homes | SR Report

Read more

Ultratech Cement Records 6% Surge in Sales, Reaching 27.3 Million Tonnes in Q3 FY24

UltraTech, a leading cement manufacturer, reported a 6% surge in total sales, reaching 27.32 million tonnes in the third quarter ending December 31, 2023.

Read more

Natural Stones in Architecture and Design - Architects’ Perspective & Market Trends

The love for natural stone and marble is undeniable; for ages they have been used to create timeless designs with impeccable aesthetics and beauty that doesn’t withered even after spending centuries exposed to the elements

Read more

The Luxury Homes in Bengaluru and Pune Are Seeing Highest NRI Demand Post-COVID-19 | ANAROCK Latest Survey

Non-Resident Indians (NRIs) seem to be interested in investing in luxury homes, priced between Rs 90 lakh to Rs 2.5 cr, post-COVID-19. Read ANAROCK’s latest consumer survey at SURFACES REPORTER.

Read more


This is alt