The surge in sales is attributed to several factors, including the growing economy, increasing disposable income, and the rise of the middle class.

The Rise of Luxury Real Estate in India

A Growing Economy and Increasing Disposable Income

The Indian economy has been experiencing a significant growth spurt in recent years, with the GDP growth rate reaching 7.2% in 2023. This growth has led to an increase in disposable income, allowing more people to afford luxury homes. The rise of the middle class has also contributed to the surge in demand for luxury real estate. Key statistics: + GDP growth rate: 7.2% in 2023 + Disposable income growth: 10% in 2023 + Middle class population growth: 20% in 2023

The Rise of Bengaluru as a Luxury Hub

Bengaluru, often referred to as India’s Silicon Valley, has emerged as a major luxury real estate hub. The city’s thriving tech industry and growing economy have made it an attractive destination for affluent buyers.

Here are some key trends that will shape the luxury home market in 2024.

The Rise of Wellness-Focused Homes

Luxury homes are increasingly incorporating wellness features that promote physical and mental well-being.

According to a recent report, NRIs have invested over ₹ 1,000 crores (approximately $1.4 billion USD) in Indian luxury real estate in the past year alone.

The Rise of High-Value Homeownership

The increasing demand for high-value homes has led to a surge in luxury real estate sales in India.

The author is CEO and Founder of White Lotus Group. Views expressed by the expert are his/her own.