Mumbai, July 22 (IANS) Mumbai’s luxury real estate market (Rs 10 crore and above) has set a new benchmark in the first half of 2025, recording the highest-ever half-yearly sales of Rs 14,750 crore across primary and secondary transactions, a report showed on Tuesday.

This is an 11 per cent increase in luxury housing sales during H1 2025 compared to Rs 12,300 crore in H1 2024.

The overall luxury real estate market hit an all-time high, with a record Rs 28,750 crore in sales value recorded between H2 2024 and H1 2025, according to the report by India Sotheby’s International Realty and CRE Matrix.

The surge in luxury sales reflects strong momentum in residential demand, driven by rising wealth, investor confidence, and the growing purchasing power of high-net-worth individuals.

“Mumbai’s luxury real estate market is at a pivotal moment. Record sales in H1 2025 signal sustained appetite for ultra-premium homes, especially in established micro-markets like Worli, Prabhadevi, Tardeo, Malabar Hill, and Bandra West — driven by better infrastructure and a spate of high-quality new launches,” said Sudershan Sharma, Executive Director, India Sotheby’s International Realty.

The primary market accounted for nearly three-quarters of sales volume, while the secondary market contributed Rs 3,750 crore, both at their highest in five years.

Worli retained its lead as the most preferred luxury destination, contributing 22 per cent of primary sales value. Other thriving micro-markets included Bandra West (192 per cent growth), Tardeo (254 per cent growth), Prabhadevi, and Malabar Hill.

“The 45–65-year age group remained the largest segment of buyers, while those above 65 years grew to 15 per cent of sales. Apartments between 2,000–4,000 square feet dominated, representing 70 per cent of primary sales, the report mentioned.

“During this period, 1,335 luxury units were sold, the highest for any 12-month stretch. The steady rise, particularly in the Rs 20-Rs 40 crore segment, points to sustained buyer interest and a confident, though increasingly selective, high-end luxury buyer,” said Abhishek Kiran Gupta, Co-founder and CEO, CRE Matrix.

—IANS

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