Indian Housing Market Reaches New Highs Amid Premium Home Demand

Housing sales in India reached a 12-year high with an annual increase of 7% in 2024, driven by demand for premium homes and stable mortgage rates, particularly in cities like Mumbai, Hyderabad, and Pune.

Housing sales in India have soared to a 12-year high, achieving a 7% annual growth in 2024. This upsurge, reported by Knight Frank, is attributed to the increasing demand for premium homes and a stable economic environment.

Amid stable mortgage rates, cities like Hyderabad and Pune reached unprecedented sales figures, with Mumbai recording its best performance in over a decade. The market for homes priced between Rs 2-5 crore witnessed significant growth despite worries over potential overheating.

Property consultant Shishir Baijal noted the shift towards high-ticket homes, catering to evolving consumer needs, and emphasized the strong momentum as the market enters the new year.