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.
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