Mumbai’s luxury residential market recorded its strongest-ever half-year performance in the first six months of 2026, with property transactions worth Rs 18,512 crore, according to a joint report by India Sotheby’s International Realty and CRE Matrix. However, the report suggests that the rapid pace of growth may slow in the coming quarters due to a high comparison base and a more cautious economic and stock market environment.
The report noted that homes priced at Rs 10 crore and above generated record transaction values across both the primary and secondary housing markets during H1 2026. The robust performance reflects sustained demand from high-net-worth individuals and investors, supported by rising purchasing power and confidence in the premium real estate segment.
“While this robust growth signals economic optimism and confidence in the Indian economy, the current sales velocity may not sustain at the same pace in the coming quarters, given the exceptional base set in H1 2026, and a more cautious growth and equity market outlook,” the report said.
In terms of sales volume, 957 luxury homes changed hands during the first half of 2026, marking a 26% increase over H1 2025 and a 71% jump compared to H1 2023. Over the past 12 months, nearly 1,700 luxury residences were sold, making it the highest annual sales volume ever recorded in Mumbai’s luxury housing segment.
Demand was particularly strong in the Rs 20-40 crore category, where sales climbed from 66 units in H1 2023 to 156 units in H1 2026. Meanwhile, the ultra-luxury segment, comprising homes priced above Rs 40 crore, registered 41 transactions during the period.
Commenting on the findings, Sudershan Sharma, Executive Director, India Sotheby’s International Realty, said, “The first half of 2026 signals Mumbai’s luxury housing market as one of India’s most resilient… With momentum sustained, India’s financial capital is positioned for continued, cautious, end-user-driven growth.”
Among key micro-markets, Worli emerged as the leading luxury destination. The locality recorded a 79% year-on-year increase in transaction value to Rs 4,493 crore, while the number of homes sold surged nearly 4.5 times to 159 units, driven by several premium residential launches since 2023.
Lower Parel also witnessed significant momentum, with luxury home transaction values rising 79% year-on-year to Rs 1,113 crore.
The report further highlighted that apartments measuring between 2,000 sq ft and 4,000 sq ft remained the most sought-after, accounting for 58% of primary market sales. Additionally, Mumbai’s top 10 luxury neighbourhoods contributed 80% of the city’s primary luxury housing transaction value during the first half of 2026.
Source: ANI
