Buying your own home is a big decision.Image Credit source: File Photo

There has been an increase in demand in luxury homes in the country. Evidence of this has been found in many recent reports. CBRE’s ‘India Market Monitor Q1 2023’ report states that in 2023, there has been an increase in the sale of luxury homes for the second consecutive year. In the quarter from January to March 2023, this speed has been seen by about 151 percent.

According to the report, Delhi-NCR luxury segment housing sales have seen a growth of 216 per cent in Q1CY23 as compared to Q1CY22. There has been an increase in the sales of houses in the luxury segment in other cities including Mumbai, Hyderabad, Pune and Kolkata.

How much sales increased in which city

It has been said in the report that the sales in Delhi-NCR have increased by 216 percent. Whereas in Mumbai this figure has reached 44 percent. Sales have increased by almost 800 percent in Hyderabad, 100 percent in Kolkata and almost 13 times in Pune. It is believed that the rise in luxury houses after the pandemic is a result of the changed mindset of homebuyers as they are now looking for bigger houses.

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12 percent increase

A housing unit costing Rs 4 crore or more falls in the luxury housing segment, while the price bracket of Rs 1-1.5 crore is in the premium or high-end segment. During the period January-March 2023, total sales of housing units across all segments have seen a quarter-on-quarter as well as annual growth of 12 per cent. A total of over 78,000 housing units were sold during the January-March 2023 period, while over 81,000 units were launched during the period.

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