Sales of luxury residential properties priced at over Rs 10 crore each in Mumbai jumped more than two times in 2021 at Rs 20,255 crore driven by rising demand for bigger homes with better amenities and low mortgage rates, according to a joint report by India Sotheby’s International Realty (SIR) and CRE Matrix.
India Sotheby's International Realty recently deepened its proptech-led offering with a strategic investment in CRE Matrix, a deep analytics platform for residential and commercial real estate.
Mumbai saw sales of luxury housing properties worth Rs 9,492 crore. In terms of volumes, sales were 1,214 units as compared to 548 units in the previous year, the report noted.
The top luxury micro-markets in Mumbai are Worli, Lower Parel, Bandra, Tardeo, Prabhadevi and Andheri. Worli alone makes up about 20 per cent of the Mumbai luxury market, it said.