The luxury housing industry experienced remarkable growth in the first quarter (Q1) of the calendar year 2023 (CY23), exceeding market expectations and capturing the attention of high net-worth individuals (HNIS) worldwide.
The latest industry reports show that the sector had become a hotbed of investment, with HNIS looking to diversify their portfolios and seeking out exclusive and highend properties.
According to a recent report by real estate consultant Anarock, quarterly housing sales were at an all-time high in the past decade, with approximately 113,770 units sold in Q1 of CY23 across the top seven cities-a 14 per cent yearly rise against approximately 99,550 units sold in Q1 of 2022 (CY22). Of the total 114,000 units sold across the top seven cities in Q1 of CY23, around 24 per cent were in the high-ticket segment, priced more than ₹1.5 crore.
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