Mumbai’s Booming Luxury Real Estate: Rs 10-Crore Luxury Housing Market Hits Record Rs 14,750 Cr in H1 2025: Report

Mumbai’s ultra-luxury housing market reached a new peak in the first half of 2025, registering record half-yearly sales of Rs 14,750 crore for homes priced above Rs 10 crore.

A joint report by India Sotheby’s International Realty and property data firm CRE Matrix revealed that sales in this segment rose 11% year-on-year from Rs 12,300 crore in H1 2024. The figure includes both primary and secondary market transactions, highlighting Mumbai’s growing appeal for high-end property buyers amid rising affluence and investor confidence.

Rising Affluence Among Buyers

“This surge reflects a structural shift in demand,” said Sudershan Sharma, Executive Director, India Sotheby’s. “Improved infrastructure, marquee launches, and India’s expanding billionaire class are fuelling momentum.”

According to the UBS Billionaire Ambitions Report 2024, India now has 185 billionaires—more than double the number a decade ago—with their combined wealth rising 263% to $905.6 billion.

Homes priced between Rs 20–40 crore saw a sharp 138% rise in sales compared to H1 2022, signaling deepening interest in high-value assets.

Also Read: Mumbai’s Luxury Home Buyers Face Dilemma: Record Prices, More Choices, But Slower Sales | Republic World

Primary market dominates, but resale grows

Primary transactions made up nearly 75% of total luxury sales, while the secondary market contributed ₹3,750 crore—its best in five years.

“Buyers are increasingly upgrading to marquee addresses, including many from beyond South Mumbai,” said Abhishek Kiran Gupta, CEO & Co-founder, CRE Matrix.

From H2 2024 to H1 2025, cumulative luxury housing sales touched ₹28,750 crore, with 1,335 units sold—marking a new 12-month record.

Leading micro-markets and buyer trends

Worli remained the most preferred micro-market, contributing 22% of primary market sales. Other top-performing areas included Bandra West (192% growth), Tardeo (254%), Malabar Hill, and Prabhadevi.

Buyers aged 45–65 remained the dominant segment, while those over 65 made up 15% of sales—signaling increasing interest from senior HNIs. Larger homes between 2,000–4,000 sq. ft. accounted for 70% of primary market sales.

Sales of ultra-premium homes priced above Rs 40 crore tripled from 17 units in H1 2022 to 53 in H2 2024.

Business Outlook

Despite record figures, experts caution that luxury buying may become more selective in the latter half of 2025 due to global uncertainties, muted equity markets, and tariff concerns.

However, the overall trend remains bullish, with the market shifting from cyclical highs to sustained growth—driven by lifestyle upgrades and the rise in India’s wealthy class.