There has been an increase in the demand for houses worth Rs 1 crore and above in the first quarter of this year, due to which the total number of house sales in the country has increased to more than 65 thousand. This information was given in a report released on Thursday.
Slight decline in house sales in January-March
JLL's report said that there has been a slight decline in the sale of houses in the January-March period and a total of 65,246 units have been sold. The reason for this decline being limited is the increase in demand for houses worth Rs 3-5 crore and Rs 1.5-3 crore. The report said that the steady increase in demand for high-priced houses indicates increasing prosperity among home buyers, changing lifestyle preferences and preference for large and premium assets.
These cities account for 66 per cent of total sales
According to the report, Bengaluru, mumbai and pune dominated the sale of homes in the top seven cities of the country and these cities accounted for 66 per cent of total sales. Increasing multinational companies and startups in these cities are creating employment opportunities and the infrastructure is constantly improving, making these cities more attractive places to live and work. The big thing is that in the last few quarters, a large part of the quarterly sales volume has come from projects launched during the same quarter.
The report said that this trend continued in the first quarter of 2025 as well and new launches between January-March contributed to one-fourth of the sales. Launches being done by big developers with the assurance of timely delivery and stable price increase are promoting this trend.
Decrease in demand for homes priced below Rs 1 crore
Dr Samantak Das, Chief Economist, JLL and Head of Research & REIS, India, said, "The residential real estate market is showing signs of a shift in buyer preferences, with demand for homes priced below Rs 1 crore declining and mid-to-high-end properties increasing." Developers are focusing more on mid-to-high-end projects to keep up with the current demand pattern. The high-end residential sector has seen a steady boom, with launches of properties priced at Rs 1 crore and above growing 107 per cent year-on-year, led by strong sales in this segment.
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