New Delhi
More than 30% of Indian property buyers are now looking for luxury and ultra-luxury homes, marking a significant rise from just 18% in the previous quarter, according to a report released on Thursday. This surge in demand reflects the increasing disposable incomes and growing confidence in the real estate sector amid broader economic growth.
The survey found that 25.5% of prospective buyers are considering properties priced over Rs 1 crore, with particular interest in homes in the Rs 3.5–Rs 5 crore range. There is also a clear preference for larger homes, with 45% of respondents seeking properties above 2,000 square feet, driven by changes in lifestyle post-Covid and rising income levels.
Additionally, 56% of buyers are interested in 3BHK homes or larger, highlighting the demand for more spacious living options.
The report reveals that a majority of homebuyers expect property prices to rise by 6-15% in the next year, motivated by the potential for capital appreciation and rental yields. For middle-income buyers with annual household incomes between Rs 20 lakh and Rs 30 lakh, properties in the Rs 75 lakh to Rs 1 crore range are most appealing, while wealthier buyers with incomes over Rs 1 crore are inclined to purchase homes between Rs 3.5 crore and Rs 5 crore.
Overall, luxury real estate continues to be a favored investment choice for many, as Indians increasingly prioritize “lifestyle residences” and view real estate as a key asset class.
