Mumbai's Luxury Real Estate Market Surges to Rs 14,750 Crore in H1 2025
Mumbai's luxury housing market hit a record Rs 14,750 crore in the first half of 2025 for homes priced above ₹10 crore, driven by rising wealth and strong demand. Worli, Bandra, Tardeo, and Malabar Hill saw significant growth.
MumbaiLuxury Real EstateHighend PropertyMarket TrendsLuxury HousingReal Estate NewsJul 22, 2025
Rising Affluence Among Buyers
This surge reflects a structural shift in demand, according to Sudershan Sharma, Executive Director, India Sotheby’s. “Improved infrastructure, marquee launches, and India’s expanding billionaire class are fuelling momentum.” According to the UBS Billionaire Ambitions Report 2024, India now has 185 billionaires—more than double the number a decade ago—with their combined wealth rising 263% to $905.6 billion. Homes priced between Rs 20–40 crore saw a sharp 138% rise in sales compared to H1 2022, signaling deepening interest in high-value assets.
Primary Market Dominates, but Resale Grows
Primary transactions made up nearly 75% of total luxury sales, while the secondary market contributed ₹3,750 crore—its best in five years. “Buyers are increasingly upgrading to marquee addresses, including many from beyond South Mumbai,” said Abhishek Kiran Gupta, CEO & Co-founder, CRE Matrix. From H2 2024 to H1 2025, cumulative luxury housing sales touched ₹28,750 crore, with 1,335 units sold—marking a new 12-month record.
Leading Micro-Markets and Buyer Trends
Worli remained the most preferred micro-market, contributing 22% of primary market sales. Other top-performing areas included Bandra West (192% growth), Tardeo (254%), Malabar Hill, and Prabhadevi. Buyers aged 45–65 remained the dominant segment, while those over 65 made up 15% of sales—signaling increasing interest from senior HNIs. Larger homes between 2,000–4,000 sq. ft. accounted for 70% of primary market sales. Sales of ultra-premium homes priced above Rs 40 crore tripled from 17 units in H1 2022 to 53 in H2 2024.
Business Outlook
Despite record figures, experts caution that luxury buying may become more selective in the latter half of 2025 due to global uncertainties, muted equity markets, and tariff concerns. However, the overall trend remains bullish, with the market shifting from cyclical highs to sustained growth—driven by lifestyle upgrades and the rise in India’s wealthy class.
Frequently Asked Questions
What is the current record sales figure for luxury homes in Mumbai?
The luxury housing market in Mumbai hit a record Rs 14,750 crore in the first half of 2025 for homes priced above ₹10 crore.
Which areas in Mumbai saw the most growth in luxury housing sales?
Worli, Bandra West, Tardeo, Malabar Hill, and Prabhadevi were the top-performing areas in luxury housing sales in Mumbai.
What is driving the surge in luxury housing sales in Mumbai?
The surge is driven by improved infrastructure, marquee launches, and the expansion of India’s billionaire class, reflecting a structural shift in demand.
What is the trend for larger homes in the luxury market?
Larger homes between 2,000–4,000 sq. ft. accounted for 70% of primary market sales, indicating a strong preference for spacious living spaces.
What are the potential challenges for the luxury housing market in the latter half of 2025?
Global uncertainties, muted equity markets, and tariff concerns may make luxury buying more selective in the latter half of 2025.
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