Demand for expensive houses: Sales of luxury houses increased three times in 5 years

The demand for expensive houses in the country is increasing tremendously. In the last five years, sales of luxury homes have increased three times from seven percent to 21 percent. The sale of cheap houses has come down from 37 percent to 17 percent to 20 percent.

According to Anarock’s report released on Friday, a total of 1.30 lakh houses were sold in the top seven cities in January-March this year. Of these, 27,070 houses i.e. 21 percent are luxury. Maximum 15,645 houses have been sold in the National Capital Region (NCR), which is 39 percent of the total sales. Their price ranges between Rs 1.5 crore to Rs 5 crore. Around 1,10,860 home launches in the top-7 cities in Q1 2024. 28,020 houses (25 per cent) were luxury. Only 19,980 i.e. 18 percent were affordable houses. In the same period five years ago in 2019, 70,480 houses were built in these cities. At that time the share of affordable houses was 44 percent. Luxury accounted for only 9 percent.

Demand for bigger house increased after Corona
The report says that after Corona, the demand for cheap houses decreased. Now people are looking for bigger houses. This is the reason why the prices of such houses have also increased.