Luxury Homes Lead Housing Market Surge timesproperty
As more individuals seek opulent living experiences, the luxury housing sector is thriving, offering unparalleled opportunities for investors, developers, and homeowners alike
The demand for high-end properties has been consistently strong, with luxury homes attracting discerning buyers who seek unparalleled comfort, exclusivity, and luxurious amenities. The latest data is also testimony to this fact. “Luxury homes are driving housing sales across most cities since the first Covid-19 wave. The quest for more space has fuelled demand for this category of homes, which has helped developers to clear significant chunks of their unsold luxury stock. According to our research, overall unsold housing stock across all budget categories in MMR saw a yearly rise of 13 per cent, from approx. 1,77,560 units in Q1 2022 to approx. 2,00,540 units by Q1 2023-end, but the luxury segment was the only one to see a 24 per cent decline in the period. Around the end of Q1 2022, MMR’s unsold stock in this category stood at approx. 20,480 units; this dropped to approx. 15,520 units by the end of Q1 2023,” says Anuj Puri, chairman of a specialised real estate services company.
