As per latest ANAROCK data, the average monthly rentals in the prominent luxury micro-markets across the top 7 cities increased anywhere between 8-18% in the last two years. Mumbai’s Worli saw the highest rental growth of 18% in the period – from INR 2 lakh per month in 2020 to INR 2.35 lakh in 2022 for luxury homes of minimum 2,000 sq. ft. area.
Fractional ownership platforms attract investors interested in not just building future income (in case of commercial or even residential properties) but also in accessing the property (resorts or vacation homes) personally for a specific period
2020 kick-started a trend reversal wherein larger homes - spacious enough to accommodate home offices and online study spaces for children - began to be in higher demand
2014 to 2020, rental prices in the top luxury markets saw consistent y-o-y growth – averaging between 3-6% annually. Capital appreciation in this period either remained range-bound or varied each year
About 57% respondents now favour property over fixed deposits, the stock market, and gold. 59% property-favouring respondents were convinced after the pandemic unfolded, after riding the fence of uncertainty before COVID-19.
As per ANAROCK data, out of the total new housing supply in year 2015 (approx. 3.90 lakh units), branded players’ share accounted for 41% while the remaining 59% of housing supply was by non-branded players.
- Firm sold 1,016 homes in the corresponding period in 2019 across top 9 cities in India & Dubai
- Despite COVID-19, organic buyer demand boosting sales amidst ongoing festive offers & discounts, govt. incentives (particularly stamp duty cut in Maharashtra) & prevailing low home loan rates
- MMR tops list – ANAROCK sold 573 units in September & October 2020 against 265 units last year (approx. 116% yearly rise), followed by NCR with 333 units sold in these two months against 260 units last year
- In Bengaluru, Firm sold 257 units in this period (76% y-o-y jump); 223 units sold in Chennai – a nearly five-fold yearly jump in Sept.-Oct. months this year
- NRIs capitalize on prevailing low prices in Dubai – ANAROCK sold 17 units in these two months against 3 units in this period last year
Mumbai, 1 December 2020: Despite unusual pressures on the housing market, residential real estate is on a high this festive season. ANAROCK Property Consultants sold 1,805 homes across top 9 Indian cities (NCR, MMR, Chennai,
South-Central Mumbai localities witnessed luxury home sales worth INR 500 Cr last month (October). In 2019, the corresponding period saw luxury sales worth approx. INR 150 crore, thus improving by >230% in the year.
the Q3 2020 base period saw nearly 29,520 units sold across the top 7 cities - much lower than the pre-COVID-19 quarter (Q1 2020) which saw nearly 45,200 homes sold. This effectively results in a larger scope for growth.
As per ANAROCK research, average property prices in the top 7 cities in the last decade (2010-Q1 2020) saw a close to 38% jump. The average price of a home in the top 7 cities rose from approximately INR 4,063 per sq. ft. in 2010 to INR 5,599 per sq. ft. by Q1 2020.