HNIs, NRIs Drive 85% Growth in Luxury Housing Sales in H1 2025

Luxury housing sales in India's top seven cities grew 85% YoY in H1 2025, driven by HNI and NRI demand seeking asset stability amid global uncertainty. Delhi NCR led the market with 4,000 units, followed by Mumbai with 1,240 units. The market is expected to continue performing similarly in the second half of the year, driven by factors such as rapid urbanisation, favourable demographics, and rising household income.

Luxury housing sales in India's top seven cities grew 85% year-on-year (YoY) in the first half of 2025, driven by strong demand from high net worth individuals (HNIs) and non-resident Indians (NRIs) seeking asset stability amid global uncertainty. According to a joint report by CBRE and Assocham, this significant growth was fueled by rising consumer confidence and lifestyle aspirations [2].

Delhi NCR led the luxury market with approximately 4,000 units sold, contributing around 57% of the total sales. Mumbai followed with 1,240 units, making up 17% of the total sales. Traditionally mid-end dominated markets such as Chennai and Pune cumulatively recorded around 5% of the overall luxury sales during H1 2025 [2].

The period also witnessed a 30% YoY increase in luxury unit launches, with Delhi NCR, Mumbai, and Hyderabad accounting for over 90% of the total luxury unit launches [2].

Gaurav Kumar, managing director of Capital Markets and Land at CBRE India, attributed the growth to strong macroeconomic fundamentals, rising consumer confidence, and a shift in developer focus towards quality, transparency, and experience. Industry experts expect the market to continue performing similarly in the second half of the year, driven by factors such as rapid urbanisation, favourable demographics, and rising disposable household income [2].

To support sustained growth and heightened activity in the housing market, the report emphasizes the need for reforms in streamlining approvals, improving project execution, and bolstering buyer confidence. This includes expanding Pradhan Mantri Awas Yojana (PMAY) benefits and interest subvention schemes for first-time buyers, along with ensuring uniform implementation of RERA and stricter penalties for non-compliance [2].

References:
[1] https://www.cbre.com/insights/reports/the-new-paradigm-in-indian-housing
[2] https://www.business-standard.com/industry/news/hni-nri-demand-luxury-housing-sales-grow-85-percent-h1-2025-125071100881_1.html