Expensive house sales at 12-year high, sale of 3.51 lakh units in 2024
New Delhi| Sales of expensive houses have risen seven percent to a 12-year high in 2024 amid stable interest rates and strong economic growth. A total of 3.51 lakh units were sold during this period. According to Knight Frank report, houses worth Rs 2 to 5 crore saw strong demand.
According to the report released, sales in Hyderabad and Pune have reached all-time highs. Mumbai has had 13-year top sales. There was an 85 per cent increase in the two to five crore rupee category. There was a decline in the sales of houses priced below Rs 1 crore. Shishir Baijal, Chairman, Knight Frank, said, expensive home sales are high because buyers want a better lifestyle. Developers are building upscale-luxury homes to meet this demand.
Among the eight cities, Delhi-NCR was the only city where sales declined in 2024 compared to 2023. Last year, 57,654 houses were sold here, down four percent. Sales in Mumbai increased by 11 percent to 96,187 units.
House sales in Bangalore grew by two percent in 2024. There was a rise of six percent in Pune. A significant increase of 12 per cent was seen in Hyderabad and 15 per cent in Ahmedabad. There was a growth of 16 per cent in Kolkata.
