Demand of expensive houses increased rapidly in India in India, 107% annual rise in premium real estate
New Delhi:
In the first quarter of this year, there has been an increase in the demand for houses of Rs 1 crore and more, due to which the total home sales figure in the country has increased to more than 65 thousand. This information was given in a report released on Thursday. JLL report said that there has been a slight decline in the sales of houses during the January-March period and a total of 65,246 units have been sold. Due to the limit of this decline, the demand for houses worth Rs 3-5 crore and Rs 1.5-3 crore is to increase.
The report stated that the continuous increase in demand for high -cost houses indicates increasing prosperity, changing lifestyle priorities and priority to large and premium assets among those who buy homes.
Bangalore, Mumbai and Pune at the top, 66% stake in total sales
According to the report, Bengaluru, Mumbai and Pune have dominated the sales of homes in the top seven cities of the country and the total stake in the total sales of these cities has been 66 percent. Due to increasing multinational companies and startups in these cities, employment opportunities are arising and infrastructure is constantly improving, making these cities more attractive to work and work.
New launch is contributing to a quarter sales
The big thing is that a large part of the quarter sales quantity in the last few quarters came from the projects launched during the same quarter.
Demand for cheap houses declined by 1 crore
Dr. Samantak Das, Chief Economist of JLL and head of REIS, India, said, “There are indications of changes in buyers’ priorities in the residential real estate market, with a decrease in demand for houses priced below Rs 1 crore and the demand for medium to high-level properties is increasing.”
Developers are focusing more on medium to high-level projects to coordinate with existing demand pattern. The high-level residential sector has steadily bouncing, with an increase of 107 percent on an annual basis in the launch of assets priced at Rs 1 crore and above, which is due to strong sales in this segment.
