We are not surprised that ultra luxury home sales are doing so well. The demand for such residential real estate has been registering significant growth since 2021 and it continues its momentum into 2024.
While traditionally only bungalows, farmhouses, and independent luxury villas commanded prices above Rs 50 crore, now apartments and penthouses in high-rise buildings in top pin codes also fetch such prices due to the exclusive lifestyle and luxury amenities they offer.
Mumbai, the financial capital has experienced a wealth surge of 47%, surpassing Beijing to become the billionaire epicenter of Asia. New Delhi is not that far behind with 57 billionaires, consolidating its position in the top 10 cities with the most billionaires across the globe.
We anticipate the demand momentum to continue with growing wealth in the country, as India continues to march towards becoming a $5 trillion economy.
