The Federal Reserve’s recent half-percentage point interest rate cut is expected to inject renewed confidence into the luxury housing market, even though a significant portion of high-end purchases are made in cash. Industry experts anticipate increased activity and potential price appreciation in the luxury segment, along with a broader positive impact across all property markets.
The luxury housing segment in India has witnessed a significant surge in sales, jumping from 7% to 21% in the past five years. In contrast, affordable housing has experienced a sharp decline, dropping from 37% to 20% during the same period. This trend is evident in the number of housing units sold and launched across major cities in the country.
DLF, a renowned real estate company, has announced the successful sale of all 795 apartments in its new luxury housing project, DLF Privana West, located in Gurugram. The project achieved remarkable sales worth approximately ₹5,590 crore within three days of its launch, showcasing the continued robust demand for luxury homes. Spread over 12.57 acres, DLF Privana West comprises a range of spacious 4BHK apartments and penthouses, offering stunning panoramic views of the Aravalli Range and proximity to the forthcoming Safari Park.
