Luxury housing sales have surged by 40% year-on-year in the April-June quarter, contrasting with a 20% decline in affordable housing, reflecting shifting consumer preferences and economic dynamics.
According to CREDAI, this growth is driven by increased disposable incomes and a growing preference for high-end homes, as reported by the Economic times.
Affluent buyers increasingly seek high-end properties with modern amenities, driving demand in Noida, Greater Noida, Ghaziabad, and Gurgaon. This shift is fueled by desires for exclusivity and superior quality of life, emphasizing larger living spaces and premium amenities.
Stable economic growth and low interest rates have fostered a favorable environment for luxury real estate. The influx of foreign investments and multiple high-value property investments by HNIs further bolster this market’s strength and resilience.
Market Dynamics and Investment Potential
Noida, Greater Noida, Ghaziabad, and Gurgaon are prime locations for luxury housing, offering strategic locations and premium lifestyle choices. The appeal lies in proximity to business hubs and a wide array of amenities, catering to discerning buyers’ preferences.
Properties priced above Rs 1.5 crore have seen significant sales increases, driven by domestic demand and NRI investments. This trend underscores luxury homes’ appeal as symbols of prestige and robust investment opportunities.
The luxury housing sector is poised for continued growth, supported by urbanization trends and evolving consumer preferences. Developers are launching new projects to meet demand for upscale residences, ensuring a balanced market supply.
In conclusion, the luxury housing market in NCR is experiencing robust growth, driven by evolving consumer preferences and favorable economic conditions.