Hyderabad has seen a huge increase in luxury home sales. In fact, sales of homes worth Rs 4 crore and above have gone up by 800%. This means that in the first quarter of this year, there were 430 units sold compared to just 50 in the same quarter last year. This information comes from a report by real estate firm CBRE South Asia Pvt Ltd which looks at trends in the Indian housing market.
The report also shows that across seven cities, sales of luxury flats have risen by 2.5 times to 4,000 units in the first quarter of this year. This is due to people wanting larger apartments with better amenities. The number of sales in the luxury home sector was 1,600 units in the same period last year.
In Delhi-NCR, sales of luxury flats have gone up by over three times to 1,900 units compared to 600 units last year. Mumbai has seen an increase from 800 units to 1,150 units, Pune has gone up from 10 units to 150 units, while Bengaluru has remained the same at 50 units. Sales of luxury homes in Kolkata have doubled to 100 units from 50 units and in Chennai, they have increased five times to 250 units from 50 units.
The report also shows that since the pandemic, more people are interested in owning luxury homes because they want more space and prefer owning their own homes.
