Sales of ultra-luxury properties in Mumbai, which cost Rs 10 crore and up, increased 20% between January and June of this year to Rs 4,751 crore due to high demand, according to a report. On Tuesday, July 22, the data analytics company CRE Matrix and real estate consultant India Sotheby's International Realty (ISIR) published a primary and secondary analysis on the Mumbai luxury home market. According to the data, the value-based sales of luxury homes in Mumbai (those priced at Rs 10 crore and up) rose 20% to Rs 14,751 crore in the first half of this year from Rs 12,285 crore in the same period last year.
Volume-wise, ultra-luxury property sales increased 11% from 622 units in the January–June period of last year to 692 units this year.
ISIR Executive Director Sudershan Sharma said, “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.” Better infrastructure and a new supply of luxury residences are the main drivers of the high demand, he added.
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Abhishek Kiran Gupta, the founder and CEO of CRE Matrix, observed that the Mumbai luxury home market continues to attract buyers. The primary market did better in terms of volumes, suggesting that purchasers are favouring newly constructed luxury homes with superior features and facilities. According to the data, sales of luxury homes in the primary market increased from 422 units in the same period last year to 501 units this year.
However, sales in the secondary (resale) market dropped from 200 units to 191 units. Luxury property sales in the primary market increased from Rs 8,752 crore to Rs 11,008 crore in value terms. Despite a decline in quantities, sales in the secondary market also slightly increased, rising from Rs 3,533 crore to Rs 3,743 crore.