Luxury Property Sales in India Hit 1,930 Units in Q1 2025

India’s luxury residential market witnessed a 28 per cent year-on-year surge in sales during the January-March 2025 quarter, according to CBRE South Asia Pvt. Ltd.'s latest "India Market Monitor Q1 2025 - Residential" report. The segment, which includes units priced at Rs 4 crore and above, saw approximately 1,930 units sold across the top seven metropolitan cities.

Delhi-NCR accounted for nearly half of the luxury housing sales in Q1 2025, with an estimated 950 units sold, compared to 13 per cent share in the same period last year. Mumbai followed with 23 per cent of total luxury unit transactions. Bengaluru showed the sharpest growth among the southern markets, increasing from around 20 units in Q1 2024 to nearly 190 in the first quarter of 2025.

The distribution of luxury sales by city in Q1 2025 was as follows:

- Delhi-NCR: ~49 per cent

- Mumbai: ~23 per cent

- Bengaluru: ~10 per cent

- Kolkata: ~5 per cent

- Hyderabad: ~5 per cent

- Chennai: ~5 per cent

- Pune: ~3 per cent

Nationwide, new residential project launches stood at approximately 65,300 units, closely matched by sales figures of around 65,800 units. Mumbai led overall unit sales at 18,600, followed by Pune with 12,500 and Delhi-NCR with 10,000. Bengaluru recorded 9,300 units sold during the same period.

The high-end segment captured the largest portion of sales at 27 per cent, with the mid-end segment following at 25 per cent. Among newly launched inventory, Mumbai led with 15,600 units (24 per cent), followed by Pune at 15,000 units (23 per cent) and Bengaluru with 11,400 units (17 per cent). High-end and mid-segment units together constituted close to 60 per cent of all new launches.

Commenting on the market trend, Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa, CBRE, said that the Q1 2025 performance reflects consistent demand, particularly in premium categories. He noted that buyer interest in luxury housing is being sustained by improving incomes, aspirations for lifestyle upgrades, and evolving urban infrastructure.

Looking ahead, CBRE expects continued momentum in housing demand throughout 2025. The Reserve Bank of India’s recent move to cut the repo rate is likely to enhance buyer sentiment. Additionally, narrowing differences between monthly rents and EMIs could prompt more renters to transition into homeownership.