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Time of India
7 days ago
- Business
- Time of India
Luxury housing performance outpaces mass market in H1 2025
India's housing market is witnessing a decisive tilt toward premium homes, with properties priced above Rs 1 crore accounting for 62% of all residential sales during the first half of 2025, showed data from JLL. This marks a sharp rise from 51% in the first half of 2024, signalling strong momentum in the high-end housing segment even as overall volumes declined. The rise in contribution was largely driven by 14% growth in demand for INR 3.0-5.0 crore housing segment during the same period. While premium homes gained market share during the period, the share of the mass segment with a price bracket of less than Rs 1 crore dropped to 38% during the period from 49% a year ago. 'The steady growth in luxury home sales indicates rising buyer affluence, evolving lifestyle aspirations, and a heightened demand for larger, premium living spaces. This increasing focus on premium properties has overshadowed activity in the mass housing segment,' said Samantak Das, Chief Economist and Head of Research and REIS, India, JLL. In the first half of 2025, Bengaluru, Mumbai, and Pune retained their leadership position in India's housing sector, collectively holding 63% share in the residential sales volume across the top seven cities. Despite fewer new project announcements during the period, launch of homes priced over Rs 1 crore surged 110% from a year ago. 'Despite a slowdown in launch momentum developers are focusing more on high-end and premium projects to align with current demand patterns. Q2 2025 saw 74,239 new homes enter the market, bringing the H1 2025 total to 154,086 units. The luxury segment showed remarkable momentum, with properties priced above Rs 1 crore more than doubling in number compared to H1 2024, responding to robust demand in this premium category,' said Siva Krishnan, Senior MD (Chennai & Coimbatore), Head - Residential Services, India, JLL. Despite the overall decline in sales in the first half of 2025, India's top seven cities maintained quarterly growth momentum during the June quarter, recording 69,630 unit-sales. Four major markets of Bengaluru, Mumbai, Pune, and Delhi NCR--each surpassed 10,000-unit sales in the quarter, collectively accounting for around 77% of total quarterly sales. The luxury segment showed exceptional quarterly performance, with homes priced above Rs 5 crore experiencing substantial 42% sequential growth, while demand in the Rs 3-5 crore range increased by 28% compared to the previous quarter.
Hans India
22-07-2025
- Business
- Hans India
Premium homes dominate in India, 62 pc residential sales in H1 2025 over Rs 1 crore
New Delhi: India's housing market is witnessing a strong shift towards premium properties, with 62 per cent of all residential sales in the first half of 2025 coming from homes priced above Rs 1 crore, a new report said on Tuesday. This marks a significant jump from 51 per cent during the same period previous year -- showing growing buyer preference for high-end housing, according to data compiled by JLL. The demand for homes in the Rs 3–5 crore range rose by 14 per cent, while homes priced over Rs 5 crore saw 8 per cent growth compared to H1 2024. This growing tilt towards premium housing has also impacted new project launches. In the first half of 2025, the number of homes priced over Rs 1 crore more than doubled compared to the same period previous year. In Q2 2025 alone, nearly 70,000 homes were sold across India's top seven cities -- registering a 7 per cent growth compared to the previous quarter. Bengaluru, Mumbai, Pune, and Delhi NCR led the way, each recording over 10,000 unit sales. Together, these cities contributed to nearly 77 per cent of the sales in Q2. The high-end housing segment saw strong quarterly growth. Homes priced over Rs 5 crore recorded a 42 per cent jump in demand compared to Q1 2025, while the Rs 3–5 crore category rose by 28 per cent. There's also a growing trend of buyers purchasing newly launched properties. In Q2 2025, about 29 per cent of homes sold were launched in the same quarter, a post-pandemic record. This shows growing trust in top developers who are delivering on promises and offering attractive investment options. Dr. Samantak Das, Chief Economist and Head of Research at JLL India, said the rise in luxury housing reflects increasing buyer affluence and evolving lifestyle needs. Siva Krishnan, Senior Managing Director at JLL, highlighted that despite fewer new project launches overall, premium housing launches soared, especially in Kolkata, Chennai, and Bengaluru. 'A total of 1.54 lakh homes were launched in H1 2025, with a significant share being in the high-end category,' Krishnan stated. Home prices also continued to rise across India's seven major cities during Q2 2025, the report said. Delhi NCR recorded the highest year-on-year (YoY) growth in property prices at 17 per cent, followed by Bengaluru at 14 per cent. These price increases are due to higher construction costs and steady demand. Looking ahead, experts believe that the recent reduction in the repo rate and falling inflation may make home loans cheaper and boost housing demand. 'With better infrastructure, increased urbanisation, and higher consumer spending, the residential market is expected to remain strong,' the report added
