Demand for luxury houses in Delhi NCR expected to increase due to HNI

In the first quarter of 2023, the luxury home market expanded significantly, outpacing predictions and attracting the interest of high net worth people (HNIs) from all around the world. The sector has emerged as a magnet for investment, with HNIs looking to diversify their holdings and seek for rare and upscale properties. According to a recent report by real estate consultant Anarock, quarterly housing sales are at an all-time high in the last ten years. In the first quarter of the calendar year 2023, the top seven cities sold approximately 1,13,770 units, an increase of 14% annually from the approximately 99,550 units sold in Q1 2022. The quarter saw the greatest sales in the last ten years due to a sharp increase in demand for expensive residences costing more than Rs 10.5 billion. In addition, the desire to better one's lifestyle—including comfort, security, prestige, technology, and having neighbours who share one's beliefs and interests—drives demand for luxury properties in Delhi-NCR. Homes costing between Rs 20-30.5 billion are over-indexed in the premium market and are increasing more quickly. The desire to acquire a home continues to be high across the nation despite rising home loan rates and property values. Also read: Kandoi Fabrics, directors buy 4 apartments in South Mumbai HDFC Capital to set up platform worth Rs 1000 cr