Categories: Latest

Luxury housing clocks 12% supply share in Q2, Mumbai leads in the segment: PropEquity Study

New Delhi, August 12, 2022: In a report released by PropEquity, India’s leading real estate data, research and analytics firm, luxury housing segment in India has seen its share rise to 12% in supply of all housing units in tier 1 cities in the second quarter of 2022. 

The share of luxury segment in supply pan India was 8% in Q2 2021. Mumbai is ranked number one in terms of luxury sales and supply in the second quarter of 2022 followed by Hyderabad.  

Affordable Segment had a share of 63%in overall supply in Q2 2022 across all Tier1Cities while Mid Segment had a share of 26%in overall supply. 

Q2 2022 saw a total supply of 77,941 units, out of which the largest share was of affordable segment of about 48,993 units,followed by mid-segment share of 19,910 units and share of luxury units being 9,132 units. 

In terms of sales, Q2-2022 saw a total sales of 1,02,311 units,out of which the largest share was of affordable segment of about 64%(65,173 units),followed by mid-segment share of 25%(26,484 units)and share of luxury units being 10%(10,654 units). 

“In the last one year we have been witnessing of revival of luxury housing across top cities in India and this trend will continue to grow in the coming quarters. Demand for affordable housing in top metros are being in ways replaced by mid-segment and luxury housing as higher disposable income of nuclear families are looking for properties with premium ameneties, larger built up area and in a well-developed location,” Mr. Samir Jasuja, Founder and Managing Director at PropEquity said. 

Luxury housing in the country has remained resilient during the last two years and now is witnessing an uptick with new launches and rightly located projects being sold out in few weeks. We believe projects by branded and fundamentally strong developers would continue to witness strong demand even with inflationary roadblocks,” Mr. Abhishiekh Andlay, Founder of Andlay Estates said. 

For affordable housing, Thane was the best city in terms of supply and sales and for mid-segment Hyderabad led the ranking for sales and Mumbai for supply.

Corporate Comm India (CCI Newswire)

The Property Times News Bureau

Recent Posts

NAREDCO Maharashtra NextGen Ties Up with Brigade REAP to Strengthen PROPEL, Empowering Emerging Entrepreneurs in Real Estate

Brigade REAP Incubates 76 Proptech Startups, Leading India's Largest Proptech Ecosystem with ₹200 Cr Earth…

2 days ago

Dr. Gautam Kanodia: Redefining Luxury Real Estate with KREEVA

New Delhi, November 22, 2024: Dr. Gautam Kanodia has emerged as a visionary leader, redefining…

2 days ago

The Rise of Premium Luxury Residences: How NCR is Setting New Standards

New Delhi, November 21, 2024: Over the years, Delhi-NCR has emerged as a hotspot for…

3 days ago

3A Composites’ Flagship BrandALUCOBOND Launches a Premium Product ‘ALUCODUAL®’

~ The Company strengthens the product portfolio with the launch of innovative & ‘Made in…

3 days ago

Government Policies and Housing Premiums Under Spotlight in latest Mumbai Realty Report

- NAREDCO Maharashtra and 1 Finance Unveils Comprehensive Study on Mumbai's Real Estate Landscape -…

4 days ago

Onward Workspaces Expands with leasing 18,000 Sq. Ft. Premium Facility at Emaar Capital in Gurgaon, Catering to Global Enterprise

The announcement marks a major step in offering Flexible Grade-A Office Solutions for Modern Businesses…

4 days ago