India's Luxury Real Estate Market Surges 37.8% in 2024
The luxury real estate market in India is witnessing robust growth, particularly in metropolitan areas such as Delhi-NCR, Mumbai, and Hyderabad. High-net-worth individuals (HNIs) are driving this surge, showing a strong preference for high-end homes with
Luxury Real EstateHighnetworth IndividualsDelhincrMumbaiHyderabadReal EstateNov 06, 2024
In 2024, luxury home sales in India reached 12,625 units, marking a notable rise from the 9,160 units sold in the same period last year. Delhi-NCR led the way with 5,855 units sold, followed closely by Mumbai and Hyderabad. These three regions together accounted for nearly 90% of all luxury home sales across India's top seven cities.
Experts attribute this growth to the strengthening Indian economy and changing buyer preferences. HNIs are increasingly seeking homes that offer modern amenities, privacy, and a high-quality lifestyle. Developers are responding to this demand by launching exclusive luxury projects that often feature eco-friendly designs and premium facilities.
Amit Modi, Director at County Group, highlighted that affluent buyers are particularly drawn to larger, more luxurious homes that provide comfort and strong investment returns. The shift towards luxury homes is also linked to a growing demand for exclusive amenities, privacy, and sustainable living spaces. High-net-worth individuals are leading this trend, looking for properties that align with their lifestyle and add value.
The 'Homebuyer Sentiment Survey-H1 2024' conducted by FICCI-Anarock underscores that real estate remains the top investment choice for many Indians, with about 59% of respondents favoring it over other options. Real estate is valued for its stability and potential for long-term growth, and luxury properties are now playing a crucial role in this trend.
To meet the increasing demand, developers are pushing the boundaries of luxury real estate by incorporating innovative designs, premium amenities, and sustainable practices into their projects. This strategic approach is not only attracting HNIs but also setting new standards in the real estate market.
Frequently Asked Questions
What is driving the growth in India's luxury real estate market?
The growth in India's luxury real estate market is primarily driven by the country's expanding economy and evolving buyer preferences. High-net-worth individuals (HNIs) are showing a strong interest in high-end homes with modern amenities and sustainable designs.
How many luxury home units were sold in 2024?
In 2024, luxury home sales in India reached 12,625 units, compared to 9,160 units sold in the same period last year.
Which cities are leading in luxury home sales?
Delhi-NCR, Mumbai, and Hyderabad are the leading cities in luxury home sales, with Delhi-NCR alone accounting for 5,855 units sold.
What are the key preferences of high-net-worth individuals (HNIs) in the luxury real estate market?
High-net-worth individuals (HNIs) are seeking homes with modern amenities, privacy, and a high-quality lifestyle. They are also showing a growing interest in sustainable living spaces.
Why is real estate considered a top investment choice in India?
Real estate is valued for its stability and potential for long-term growth, making it a preferred investment choice for many Indians. This is further reinforced by the rising demand for luxury properties, which offer both comfort and good investment returns.
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