The luxury property market in India has seen a significant surge in sales, with key markets like Delhi-NCR, Mumbai, and Hyderabad leading the charge.
Luxury HomesReal EstateDelhincrMumbaiHyderabadReal Estate MumbaiOct 17, 2024
Luxury home sales in India increased by 37.8% from January to September 2024 compared to the same period in the previous year.
The key markets for luxury property sales are Delhi-NCR, Mumbai, and Hyderabad, which together account for approximately 90% of total sales across the top seven cities in India.
The demand for luxury homes is driven by wealthy buyers' preference for higher amenities and larger living spaces, the growing aspirational generation, and the expanding number of non-resident Indian and knowledgeable domestic investors.
Non-resident Indian investors are contributing significantly to the luxury real estate market by investing in high-end properties as both a lifestyle choice and a financial investment, often driven by their emotional connection to their home country.
The government has supported the luxury real estate sector through initiatives such as easing regulations, offering tax incentives, and improving infrastructure, making luxury homes more attractive to a broader range of buyers.
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