July 23, 2025: Mumbai’s luxury housing market — defined as properties priced at Rs 10 crore and above — has set a new benchmark, clocking its highest-ever half-yearly sales at Rs 14,750 crore in the first half of 2025, according to a report released on Tuesday.
This marks an 11% rise compared to the Rs 12,300 crore recorded in the same period last year. The combined luxury market value over the past 12 months — from H2 2024 to H1 2025 — now stands at a record Rs 28,750 cr, as per data from India Sotheby’s International Realty and real estate analytics firm CRE Matrix.
The sharp rise in sales is attributed to robust residential demand, underpinned by growing affluence, rising investor confidence, and the increasing purchasing power of high-net-worth individuals. “Mumbai’s luxury real estate market has reached an inflection point. The record performance in H1 2025 highlights the continued appetite for ultra-luxury homes, especially in micro-markets such as Worli, Prabhadevi, Tardeo, Malabar Hill, and Bandra West, all benefitting from improved infrastructure and premium new launches,” said Sudershan Sharma, Executive Director at India Sotheby’s International Realty.
Nearly 75% of total sales came from the primary market, while the secondary market contributed Rs 3,750 cr — the highest in five years. Worli emerged as the top luxury destination, accounting for 22% of primary market sales. Bandra West, Tardeo, Prabhadevi, and Malabar Hill also saw significant growth, with Tardeo witnessing a 254% increase.
Apartments sized between 2,000 and 4,000 sq ft accounted for 70% of primary sales. A total of 1,335 luxury units were sold during this period — the highest in any 12-month stretch. Most buyers were aged 45–65, with those above 65 making up 15% of the market.
Source: The Free Press Journal
