 "Luxury property prices up 8-12% in 2022; surpasses 2015 peak level: Survey")
Prices of luxury properties appreciated by 8-12 per cent during the last year across major cities and has breached the 2015 peak level, according to India Sotheby's International Realty.
In its annual 'Luxury Outlook Survey 2023', India Sotheby's International Realty (ISIR) revealed that 61 per cent of High-Net-worth Individuals (HNIs) and Ultra High-Net-worth Individuals (UHNIs) are looking to buy luxury real estate during 2023-24.
The sample size of the survey is more than 500 HNIs and UHNIs.
Asked about the price range of the property respondents were considering, the ISIR said that the highest interest (65 per cent) came in the price bracket of Rs 4-10 crore for their property investment.
The survey found that 33 per cent of HNIs and UHNIs are willing to spend upwards of Rs 10 crore to acquire the right luxury property.
On rates of luxury properties, the ISIR said, "Even though luxury property prices have gained 8-12 per cent in 2022, they are only marginally higher than 2015 peak."
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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