New Delhi: Following the epidemic, India’s luxury property market has done very well, with overall sales climbing sharply across the top 7 metros.
According to data from real estate consultant ANAROCK Research, luxury properties made up 14% of all dwelling units sold during the first half of 2022 (January-June). During that time, 1.84 lakh housing units were sold in the top seven cities, of which 25,700 belonged to the premium market.
Just 7% came from the luxury market during the same period last year, according to the real estate consultancy.
Anuj Puri, Chairman of ANAROCK Group, said, “These sales figures are even more astounding if we realize that it is primarily end-users who are driving luxury property sales throughout these cities today.”
“Even though the typical buyers in this segment were not as impacted by the pandemic as the rest, high net individuals are conscious of cost. Discounts by developers made luxury properties very attractive for these buyers and non-resident Indians have also been snapping up luxury homes in India because of the favorable exchange rate,” Puri added.