The demand for luxury real estate remains steady, with the sales of apartments valued at Rs 1 crore and above surged by 10%, while those of under Rs 1 crore have gone down by a substantial 32%, as per a report released by JLL.
This was largely driven by 22% year-on-year growth in sales of Rs 1.5-3 crore housing units, followed a 20% growth in the premium housing segment, which comprises homes priced in the range of Rs 3-5 crore.
"This upswing in the higher-priced segment demand has shielded the overall housing sales from a sharper decline," said JLL's Chief Economist and Head of Research Samantak Das.
Bengaluru, Mumbai, and Pune reigned over the residential sales among the top seven cities in India. "They collectively accounted for 66% of Q1 2025 sales", the report stated. Contributing factors to this surge include higher volume of multinational companies and startups creating more employment opportunities, and the continuous infrastructural developments, it suggested.
The steady increase in higher ticket size homes suggests increasing wealth among homebuyers, evolving lifestyle preferences and buyers prioritizing larger and premium properties, noted the report.
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