Luxury Property Boom: Mumbai Leads the Way in High-End Housing Sales
India's luxury housing market is on the rise, with Mumbai experiencing a surge in demand for prime properties, driven by big-ticket deals and a growing desire for ultra-luxury living.
Luxury HousingReal EstateMumbaiCbre South AsiaGaurav Kapoor LtdReal Estate NewsJul 10, 2024
Mumbai's luxury real estate market has been particularly buoyant, with prices rising by 11.5 per cent over the past 12 months, placing it third globally behind Manila and Tokyo in Knight Frank's Prime Global Cities Index. This significant growth can be attributed to the increased demand from high-net-worth individuals and investors seeking to acquire prime properties.
\
Frequently Asked Questions
Which city has experienced the highest growth in luxury real estate prices?
Mumbai has experienced the highest growth in luxury real estate prices, with a 11.5 per cent increase over the past 12 months.
What is driving the demand for luxury housing in India?
The demand for luxury housing in India is driven by factors such as increased disposable income, changing lifestyle preferences, and the desire for larger living spaces post-pandemic.
Which report highlights the growth of luxury housing sales in India?
The report by CBRE South Asia highlights the growth of luxury housing sales in India.
What is the Prime Global Cities Index?
The Prime Global Cities Index is a ranking of cities based on annual realty price changes, published by Knight Frank.
What is the average year-on-year growth in luxury housing sales across seven major Indian cities?
The average year-on-year growth in luxury housing sales across seven major Indian cities is 10 per cent.
Related News Articles
Maharashtra to Build 12,000 Houses for Dabbawalas and Charmakars under PMAY
Maharashtra Deputy Chief Minister Devendra Fadnavis announces housing project for dabbawalas and charmakars under PM Awas Yojana.
Indian Businessman Acquires Rs 123 Crore Sea-Facing apartment in Mumbai
This high-profile purchase not only highlights the trend of industrialists and celebrities investing in prime properties but also places him among notable neighbors like Bollywood star Shahid Kapoor.
Deepak Parekh Urges Industrialists to Redevelop Mumbai Slums, Avoid Politicisation
Deepak Parekh, a prominent figure in the Indian business community, has called for industrialists to take a proactive role in the redevelopment of Mumbai's slums. He emphasized the need to avoid politicization of the process to ensure effective and sustai
Madhuri Dixit Leases Andheri West Office for Rs 3 Lakh Monthly: Report
Bollywood icon Madhuri Dixit has ventured into the real estate market by leasing her office space in Andheri West, Mumbai, for a monthly rent of Rs 3 lakh. This move highlights the lucrative nature of commercial real estate in the city.
FII Returns to Net Buying After 23 Sessions of Selling: Will the Trend Continue?
Lower borrowing costs typically boost market sentiment across sectors, particularly benefiting rate-sensitive segments like banking, real estate, and more. The recent shift in Foreign Institutional Investor (FII) behavior has caught the attention of marke
Zuari Infraworld to Launch ₹1,500 Crore Real Estate Megaproject
Zuari Infraworld India Limited, a wholly-owned subsidiary of Zuari Industries Limited, has signed a development management agreement to build a massive ₹1,500 crore real estate project. This initiative aims to transform the local real estate landscape and