realestate

India's high-end real estate market surges ahead of economic downturn

Luxury property sales in India surge 37.8% in first nine months of the year, says CBRE.

I
ndia's high-end real estate market is bucking the economic trend as affluent buyers, including local tech moguls and overseas investors with Indian roots, continue to splurge on upscale homes. Industry insiders report a surge in demand for luxurious properties featuring private pools, penthouse views of major city skylines like Mumbai, and even helipads. Entire floors are being occupied by these high-end residences.

    According to CBRE's Anshuman Magazine, chairman and CEO for India, Southeast Asia, Middle East and Africa, the luxury housing market is experiencing a resurgence, driven by buyers seeking premium living experiences. Between January and September, sales of properties priced at 40 million Indian rupees (approximately $470,000) or more jumped 37.8% year-over-year, with Delhi's national capital region, Mumbai, and Hyderabad leading growth. Specifically, Delhi-NCR saw a 72% increase in luxury property sales, while Mumbai recorded an 18% rise, accounting for half of the country's total luxury transactions.

Indian luxury property market booms despite impending economic recession nationwide.