Mumbai's Luxury Real Estate Market Surges with Rs 14,750 Crore in Six Months
Mumbai’s luxury real estate market, which includes apartments priced at Rs 10 crore and above, has recorded its highest-ever half-yearly sales in the first half of CY'25, reaching Rs 14,750 crore. This impressive figure encompasses both primary and secondary transactions.
According to India Sotheby’s International Realty, a leading transaction and advisory firm for luxury homes, and CRE Matrix, a data analytics firm, there has been an 11% increase in sales during H1 CY'25 compared to Rs 12,300 crore in H1 CY'24.
“Record sales in H1 2025 signal sustained appetite for ultra-premium homes. This demand is buoyed by India’s expanding wealth base. The UBS Billionaire Ambitions Report 2024 notes India now has 185 billionaires, more than double the number a decade ago, with collective wealth rising 263% to US$ 905.6 billion,” said Sudershan Sharma, Executive Director of India Sotheby's International Realty.
The surge in luxury sales reflects strong momentum in residential demand, driven by rising wealth, investor confidence, and the growing purchasing power of high-net-worth individuals. The primary market accounted for nearly three-quarters of sales volume, while the secondary market contributed Rs 3,750 crore, both at their highest in five years.
Worli retained its lead as the most preferred luxury destination, contributing 22% of primary sales value. Other thriving micro-markets included Bandra West, which saw a 192% growth, Tardeo, which experienced a 254% growth, as well as Prabhadevi and Malabar Hill.
“Combined with H2 CY’24, total sales over the past 12 months touched Rs 28,750 crore, an all-time record. During this period, 1,335 luxury units were sold, the highest for any 12-month stretch. The steady rise, particularly in the Rs 20–40 crore segment, points to sustained buyer interest and a confident, though increasingly selective, high-end luxury buyer,” said Abhishek Kiran Gupta, Co-founder & CEO of CRE Matrix.
Interestingly, 24% of buyers from the top 10 localities for luxury housing in Mumbai have their origins in localities situated beyond South Mumbai, indicating an upgrade in lifestyle and a shift away from their original areas. Goregaon East accounted for the highest proportion of homebuyers, amongst the top 10 localities, originating for luxury home purchases.
This robust performance in Mumbai’s luxury real estate market underscores the city's continued appeal as a prime location for high-net-worth individuals and investors, driven by a combination of economic growth, rising affluence, and a desire for premium living spaces.
