Team Blitz India
NEW DELHI: The sales of luxury homes in India, priced Rs 4 crore and above, jumped 75 per cent last year, doubling the share of these homes in total housing sales, a report released by real estate consultancy CBRE said on February 14. A total of 12,935 such homes were sold in 2023, compared to 7,395 in 2022.
According to the India Market Monitor Q4 2023, the share of luxury segment in total sales now stands at 4 per cent. It was 2 per cent in 2022. The new launches also rose 45 per cent, on the back of increased demand.
“A 75 per cent surge in luxury unit sales and a substantial 45 per cent rise in launches underscore the sector’s vibrancy. The evolving market dynamics, especially in key cities like Delhi-NCR, Mumbai, Pune, Hyderabad, and Bangalore, reflect a nuanced demand for high-end residences,” said Anshuman Magazine, chairman and chief executive officer (India, South-East Asia, Middle East & Africa), CBRE.
The highest rise in sales of luxury homes was witnessed in Delhi and the National Capital Region (NCR). A total of 5,530 units were sold in the city in 2023, 197 per cent higher than 1,860 units in 2022.
