Decoding the socioeconomic impact of surging luxury real estate demand in India
The Indian real estate segment has undergone a transformative shift. The most notable shift that has come to the fore in the last couple of years is the demand in the luxury housing segment. Not only are the discerning homebuyers looking for a home that matches their lifestyle, but there is also been a greater demand for bigger homes.
This has also been captured in a recent report by Anarock Research, which reveals that the average flat size in top Indian cities has been on the rise, experiencing an annual increase of 11% in 2023. According to the data captured in this report, Delhi-NCR, Chennai, Bengaluru and Hyderabad witnessed an increase in average flat size but Delhi-NCR led the surge with a remarkable 37% increase, attributed to the influx of new luxury supply.
