Luxury real estate sales set to outperform 2019 figures in top 7 Indian cities, says consultancy firm

The development comes at a time when the sale of affordable housing has taken a hit. In the first half of this calendar year, 31 per cent of the units sold were in the affordable sector, which is a drop from the 38 per cent in 2019. Of the 1.84 lakh homes sold till end of June 2022, 57,040 units were in the affordable sector. The press statement by Anarock states that the dip is mainly because of the greatest hit due to the pandemic being taken by the target customers of affordable housing.

Anarock Group chairman Anuj Puri called the sales figures remarkable. “These sales figures are even more remarkable if we consider that it is mainly end-users who are driving luxury housing sales across these cities today. There is a clear takeaway on overall economic performance. Even though the typical buyers in this budget segment were not as impacted by the pandemic as the rest, HNIs are conscious of cost. Discounts by developers made luxury properties very attractive for these buyers and NRIs have also been snapping up luxury homes in India because of the favourable exchange rate,” says Puri.