There has been an increase in sales of properties priced at Rs 1 crore and above in top cities and in the first quarter of this year, these premium properties accounted for 37 per cent of all transactions, up from 16 per cent in the same period before the pandemic in 2019. ,
According to a report by REA India-owned PropTiger.com, there has been a substantial increase (50-55 per cent) in demand within the Rs 1-5 crore price bracket in the January-March period this year.
This was followed by the Rs 5-10 crore range, especially in cities like Mumbai, Gurugram and Bengaluru.
According to the report, this trend indicates promising opportunities for investors and stakeholders.
“Aspirations are evolving, with homebuyers looking for residences equipped with modern amenities and spacious layouts. This shift towards larger, amenity-rich homes is contributing to rising property prices,” said Vikas Wadhawan, group CFO of PropTiger.com and housing.com.
It is clear that the market is moving towards a positive path due to the increasing preferences of discerning buyers.
The report highlighted a 41 per cent growth (year-on-year) in residential sales, which set a record high for the first quarter with total sales of 120,640 units across the country.
According to Anarock Research, around 8.25 lakh new homes were launched and 8.72 lakh units were sold during the last two financial years.
Post 2019 elections, average residential prices in the top seven cities have increased at a 6 per cent CAGR from Rs 5,600 per sq ft in June 2019 to Rs 7,550 per sq ft by the end of FY2024.
For investors looking to preserve and grow their wealth amid inflationary pressures, real estate has emerged as a popular hedge, according to Anarock research.
According to a report by REA India-owned PropTiger.com, there has been a substantial increase (50-55 per cent) in demand within the Rs 1-5 crore price bracket in the January-March period this year.
This was followed by the Rs 5-10 crore range, especially in cities like Mumbai, Gurugram and Bengaluru.
According to the report, this trend indicates promising opportunities for investors and stakeholders.
“Aspirations are evolving, with homebuyers looking for residences equipped with modern amenities and spacious layouts. This shift towards larger, amenity-rich homes is contributing to rising property prices,” said Vikas Wadhawan, group CFO of PropTiger.com and housing.com.
It is clear that the market is moving towards a positive path due to the increasing preferences of discerning buyers.
The report highlighted a 41 per cent growth (year-on-year) in residential sales, which set a record high for the first quarter with total sales of 120,640 units across the country.
According to Anarock Research, around 8.25 lakh new homes were launched and 8.72 lakh units were sold during the last two financial years.
Post 2019 elections, average residential prices in the top seven cities have increased at a 6 per cent CAGR from Rs 5,600 per sq ft in June 2019 to Rs 7,550 per sq ft by the end of FY2024.
For investors looking to preserve and grow their wealth amid inflationary pressures, real estate has emerged as a popular hedge, according to Anarock research.
