Luxury home sales rise 115%
Hyderabad saw over three-fold surge in sales of luxury homes to 13,630 units during January-September this year from 3,790 units in the year-ago period, says Anarock report
Delhi-NCR has witnessed over two-fold jump to 13,630 units in January-September this year on better demand and supply. The sales of luxury homes in Bengaluru rose sharply to 9,220 units from 3,810 units. In the Mumbai Metropolitan Region (MMR), sales of luxury housing increased by 74 per cent to 36,130 units from 20,820 units
The luxury housing segment maintains a seemingly unstoppable growth curve in 2023, with overall sales rising steeply across the top seven cities.
The sales of luxury homes priced above Rs 1.5 crore increased 115 per cent at 84,400 units in these cities during the first nine months of 2023, when compared to 39,300 units in the same period last year, according to the latest report by real estate consultancy Anarock Group.
As per the data, Delhi-NCR has witnessed over two-fold jump to 13,630 units in January-September this year on better demand and supply. Hyderabad saw over three-fold surge in sales of luxury homes to 13,630 units during January-September this year from 3,790 units in the year-ago period.
Anarock Chairman Anuj Puri said the luxury housing segment has been growing rapidly on demand surge after the COVID pandemic. The supply in this segment too has improved. Post-COVID, the concept of home ownership has strengthened. People are also upgrading to better and bigger homes.
During the period under review, sales of luxury homes in Bengaluru rose sharply to 9,220 units from 3,810 units. In the Mumbai Metropolitan Region (MMR), sales of luxury housing increased by 74 per cent to 36,130 units from 20,820 units. Pune saw a nearly three-fold rise in luxury housing sales to 6,850 units from 2,350 units. Luxury housing sales in Chennai also increased to 3,330 units from 1,370 units.
Sales of luxury housing in Kolkata rose 69 per cent to 1,610 units during January-September this year from 950 units in the same period last year.
Including all price brackets, Anarock data showed that a total of 3.49 lakh units were sold in these seven cities in the first nine months of this year. Out of that, the share of luxury homes was 24 per cent. In the same period last year, the share of sale of luxury homes in the total sales was 14 per cent.
