Luxury home buying trend in India 2022: Bangalore’s contribution to total luxury housing sales has doubled from the previous year’s 5% to 10% in the first half of the current year.
Luxury home buying trend in India 2022: More number of luxury houses priced over Rs 1.5 crore is being sold in Mumbai compared to cities like Delhi, Bengaluru, Hyderabad and Pune, according to recent data for the first half of 2022 by Anarock Research.
Around 17,830 luxury housing units were sold in Mumbai Metropolitan Region (MMR) and Delhi-NCR in H1 2022. MMR alone accounted for 25% of the total luxury housing sales in H1 2022. The share of NCR in luxury housing sale during this period was 12%.
While the overall luxury housing sales went up by 14% in H1 2022 compared to 9% in the previous year, citizens like Hyderabad, Bengaluru and Chennai contributed 10% each to the total luxury housing units sold in H1 2022.
The contribution to total luxury housing sales in the first half of this year was just 5% in Pune and 6% in Kolkata.
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Mumbai has been the biggest luxury housing market in the previous year as well, contributing 13% to total sales in 2019, 13% in 2020 and 18% in 2021.
City-wise Luxury Housing Sales Share
| 2019 | 2020 | 2021 | H1 2022 | |
| NCR | 4% | 3% | 6% | 12% |
| MMR | 13% | 13% | 18% | 25% |
| Bangalore | 6% | 4% | 5% | 10% |
| Pune | 1% | 1% | 2% | 5% |
| Hyderabad | 10% | 7% | 7% | 10% |
| Chennai | 2% | 2% | 5% | 10% |
| Kolkata | 3% | 1% | 4% | 6% |
| Total | 7% | 6% | 9% | 14% |
Source: Anarock Research
Interestingly, Bengaluru’s contribution to total luxury housing sales has doubled from the previous year’s 5% to 10% in the first half of the current year.
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Luxury housing availability
According to the Anarock Research data, MMR has 44,710 luxury homes currently available. In H1 2022, 13,670 luxury homes were sold in the region. NCR has 19,470 luxury units available for sale. In H1 2022, approx. 4,160 units were sold in this segment.
Hyderabad has 11,730 luxury homes available. Approximately 2,420 luxury units were sold in this category In the first half of this year. Bengaluru has approx. 9,860 luxury units available for sale. In H1 2022, approx. 2,430 luxury homes were sold in the city. Pune has approx. 5,860 luxury homes available for sale. In H1 2022, approx. 1,460 luxury homes were sold in this city.
