Luxury homes have captured 45% of Delhi-NCR real estate sales in the first half of 2024, with Gurugram leading the luxury housing market. This surge is driven by rising incomes, a preference for larger homes, and upscale amenities.
The Delhi-NCR real estate landscape has undergone a dramatic transformation, with luxury homes emerging as the dominant force. A striking 45% of total sales in the first half of 2024 were concentrated in the luxury segment, a monumental shift from the mere 3% share it held in 2019. This unprecedented growth is being primarily fueled by Gurugram, which accounts for a substantial 60% of all luxury sales within the NCR region.
Several factors have contributed to this surge in demand for high-end properties. The rising disposable income of a burgeoning affluent class, coupled with a growing preference for larger and more luxurious living spaces, has significantly impacted consumer choices. Additionally, the allure of upscale amenities, world-class infrastructure, and exclusive lifestyle offerings has further propelled the luxury housing market in Delhi-NCR.
While affordable housing continues to be a vital segment, particularly in Noida and Greater Noida, the overall market trajectory is undeniably skewed towards the luxury end of the spectrum. This trend is set to reshape the real estate landscape in the coming years, as developers increasingly focus on catering to the demands of the discerning luxury buyer.
