Luxury home sales from January to July top full 2021 demand – Times of India

NEW DELHI: Sales of luxury flats, priced above Rs 1.5 crore, stood at 25,680 units across seven major cities during January-June and have surpassed sales in each of the last three years, according to property consultant Anarock.
The Mumbai Metropolitan Region (MMR) contributed more than 50% of the total luxury housing sales in the first half of this year.
According to the data, 21,700 luxury flats were sold in 2021 calendar year across seven major cities – Delhi-NCR, MMR, Bengaluru, Pune, Hyderabad, Chennai and Kolkata. In 2020, sales of luxury apartments fell to 8,470 units from 17,740 units in 2019 due to the Covid impact.

“There has been completion of many luxury residential projects this year. The demand for ready-to-move in units was higher as customers wanted to shift immediately,” Anarock chairman Anuj Puri said. Further, he said the high net worth individuals (HNIs) have made money during the pandemic from stock market, which they are investing in real estate now.
“Joint families have realised during the pandemic the need for larger spaces, and that too immediately. This is also one of the major demand drivers,” Puri said. The consultant also noted that housing prices have risen after the second wave of Covid.agencies