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.
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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.
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