Luxury Housing Market in Delhi-NCR Sees 27% Growth in 2024
Delhi-NCR's luxury housing market records strong growth, driven by demand for enhanced amenities and NRI investments.
Delhi NcrLuxury HousingReal EstateCbreNri InvestmentsReal Estate MumbaiJul 18, 2024
The report highlights that the Delhi-NCR region is followed by Mumbai, which recorded sales of 2,500 luxury units, and Hyderabad, which registered sales of 1,300 units. Pune, on the other hand, witnessed a remarkable 450% year-on-year growth, with sales of 1,100 luxury units.
The overall housing market in India recorded a total of 156,000 units being sold in the January-June period. The sales of luxury housing in the top cities registered a 40.1% year-on-year growth in the April-June quarter, with Delhi-NCR emerging as a prominent market, followed by Mumbai and Hyderabad.
The growth in luxury housing sales can be attributed to a growing preference by affluent buyers for enhanced amenities and more spacious living areas. Additionally, NRI investments are also driving the demand for luxury units. The aspirational class is also contributing to the sales of luxury units.
Anshuman Magazine, chairman & CEO of India, South-East Asia, Middle East & Africa, CBRE, believes that the mega infrastructure projects across the country, including transportation networks, highways, airports, and metro systems, are poised to bolster real estate growth. These developments are likely to unlock new markets, establish satellite cities, and stimulate growth in peripheral areas, making luxury housing an attractive investment.
With the Indian economy growing steadily, the demand for luxury housing is expected to continue to rise in the coming years. The luxury housing market in Delhi-NCR is likely to remain a prominent player in the Indian real estate sector.
Information
CBRE is a leading global real estate consulting firm that provides a range of services, including property sales, leasing, and investment. With operations in over 100 countries, CBRE is one of the largest commercial real estate services companies in the world.
CBRE is a leading global real estate consulting firm that provides a range of services, including property sales, leasing, and investment. With operations in over 100 countries, CBRE is one of the largest commercial real estate services companies in the world.
Frequently Asked Questions
What is the growth rate of luxury housing sales in Delhi-NCR?
The growth rate of luxury housing sales in Delhi-NCR is 27% in the first half of 2024.
What is the total sales of luxury units in Delhi-NCR between January and June 2024?
The total sales of luxury units in Delhi-NCR between January and June 2024 is 8,500.
Which city has recorded the highest year-on-year growth in luxury housing sales?
Pune has recorded a 450% year-on-year growth in luxury housing sales.
What is driving the demand for luxury housing in India?
The demand for luxury housing in India is driven by a growing preference by affluent buyers for enhanced amenities and more spacious living areas, as well as NRI investments.
How many luxury housing units were sold in India in the first half of 2024?
A total of 156,000 luxury housing units were sold in India in the first half of 2024.
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