Luxury Housing Boom: Mumbai Leads the Way with a 10% Surge in High-End Sales
Mumbai's luxury real estate market is experiencing a surge in demand, driven by a wave of big-ticket deals, with prices rising by 11.5% in the past 12 months.
Luxury HousingMumbaiReal EstateHigh End PropertiesIndiaReal Estate MumbaiJul 10, 2024
Mumbai's luxury real estate market has been a key driver of this growth, with prices rising by 11.5% over the past 12 months. This places Mumbai third globally, behind only Manila and Tokyo, in Knight Frank's Prime Global Cities Index, which ranks cities based on annual realty price changes.
The demand for high-end residential properties is being driven by factors such as increased disposable income, changing lifestyle preferences, and the desire for larger living spaces post-pandemic. This trend is reflected in projects across Mumbai, including new developments like Palais Royale.
Gaurav Kapoor, MD of Gaurav Kapoor Ltd, notes that
Frequently Asked Questions
Which city has seen the highest growth in luxury housing sales?
Mumbai has seen the highest growth in luxury housing sales, with a 10% year-on-year growth.
What is driving the demand for high-end residential properties?
The demand for high-end residential properties is being driven by factors such as increased disposable income, changing lifestyle preferences, and the desire for larger living spaces post-pandemic.
Which cities are seeing a surge in luxury housing sales?
Cities such as Mumbai, Delhi-NCR, Bengaluru, Hyderabad, Chennai, Pune, and Kolkata are seeing a surge in luxury housing sales.
What is the percentage increase in luxury real estate prices in Mumbai over the past 12 months?
Luxury real estate prices in Mumbai have risen by 11.5% over the past 12 months.
Which report ranks cities based on annual realty price changes?
Knight Frank's Prime Global Cities Index ranks cities based on annual realty price changes.
Related News Articles
Festive Season Blues: Indian Real Estate to Witness Fewer Launches
The ongoing pandemic and global economic concerns are likely to curtail residential project launches during the festive season, as developers focus on executing ongoing projects and grappling with liquidity challenges.
India’s Real Estate Sector Reaches USD 10 Billion Equity Milestone
Mumbai and Bengaluru are leading the way in capital inflows, driven by robust investment in office assets and promising residential projects, as reported by CBRE.
Goa Welcomes Maharashtra Developers to Invest in Thriving Real Estate Market
The Goa Housing Board has announced a series of new projects and is inviting developers from NAREDCO Maharashtra to invest in the rapidly growing real estate market of the state. Tenders for these projects will be issued soon, promising lucrative opportun
Realty One Group Teams Up with Global Real Estate Franchise Expert to Expand Internationally
Realty One Group, a prominent real estate firm, has partnered with a leading international franchise expert to expand its global footprint. This strategic move aims to leverage the expertise and resources of both entities to enter new markets and enhance
Understanding the Importance of Liquidity in Real Estate and Savings: Insights from Robert Herjavec
Shark Tank's Robert Herjavec explains why liquidity is crucial in financial decision-making, especially in real estate investments and savings strategies.
Pune Leads the Way in Home Delivery Growth for 2024-25
Pune has recorded the highest growth in home deliveries among major Indian cities, thanks to the efforts of the Real Estate Regulatory Authority (RERA) in improving project delivery timelines.