The demand for luxury real estate remains steady, with the sales of apartments valued at Rs 1 crore and above surged by 10%, while those of under Rs 1 crore have gone down by a substantial 32%, as per a report released by JLL.
This was largely driven by 22% year-on-year growth in sales of Rs 1.5-3 crore housing units, followed a 20% growth in the premium housing segment, which comprises homes priced in the range of Rs 3-5 crore.
“This upswing in the higher-priced segment demand has shielded the overall housing sales from a sharper decline,” said JLL’s Chief Economist and Head of Research Samantak Das.
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