Contact Members/Sign Up Reg Form

Luxury Leads Q1 2024 Housing Launches: Report

Photo: Pixabay

In the first quarter of 2024, high-end and luxury properties lead housing launches, constituting 34% of the total, as per a Cushman & Wakefield report. Mumbai and Pune lead contributions at 28% and 16% respectively, followed by Hyderabad and Bengaluru at 16% and 13%.

Despite a 7% decline from Q4 2023 and a 15% decrease from Q1 2023, the total housing unit launches across top 8 cities remain above the 2022 quarterly average.

While Bengaluru and Mumbai observe increased launches, Delhi-NCR, Chennai, Hyderabad, Pune, Kolkata, and Ahmedabad witness declines. The high-end and luxury segment's dominance, with a share steadily increasing from 13-14% in 2019 to over 30% post-2022, mirrors evolving homebuyer preferences for upscale lifestyles.

Mid-segment housing retains its position as the volume leader, accounting for over 50% of launches consistently for the past few years.

However, the affordable housing segment experiences a downturn, representing just 13% of launches this quarter. Developers may be cautious due to lower margins and stringent regulations compared to the high-end and mid-segments.

Listed and reputable developers lead residential launches, contributing over 38% of Q1 2024 launches.

In the NCR region, high-end and luxury properties capture 61% of launches, with Gurugram leading the way. Noida sees the highest contribution to mid-segment launches at 26%.

Mumbai's residential sector witnesses a 21% growth in launches over the previous quarter, dominated by mid-segments with a 61% share.

Bengaluru records nearly 8,850 unit launches in Q1 2024, with branded and listed developers contributing around 53% of launches.

Shalin Raina, Managing Director, Residential Services, Cushman & Wakefield, notes a significant rise in demand for high-end and luxury properties, reflecting a shift in homebuyers' preferences towards lifestyle-oriented investments.

March 30, 2024 12:34 p.m. 2777

#AffordableHousing #RealEstate #Developers #Investment #Margins #HousingMarket #LowIncomeHousing #PropertyDevelopment #MarketTrends #RealEstate #LuxuryHomes #AffordableHousing #PropertyMarket #Homebuyers #Developers #HousingTrends #UrbanLiving #CushmanWakefield #ResidentialSector #MarketTrends #Investments

16 Dead, 28 Missing in Migrant Boat Capsize: UN

global news / world news
April 23, 2024 6:08 p.m. 356

The most recent tragic incident on the Eastern Migration Route...Read More.

Sanju Samson Tipped India Captain Post Rohit, Pandya Snub

sports / sports globally
April 23, 2024 5:52 p.m. 358

Harbhajan Singh has clear picks for T20 WC 2024 keeper and future T20I captaincy...Read More.

16 Dead, 28 Missing in Migrant Boat Capsize: UN

The most recent tragic incident on the Eastern Migration Route

Sanju Samson Tipped India Captain Post Rohit, Pandya Snub

Harbhajan Singh has clear picks for T20 WC 2024 keeper and future T20I captaincy

Palm Jumeirah Villa Rentals Surge by 63% in Q1 2024

Palm Jumeirah rents surge 63% in Q1 2024, highest increase among Dubai neighborhoods

Taiwan: 200 Aftershocks After Quake

Hualien hit by 7.2 quake; 17 dead. Over 1,000 aftershocks in largely rural area

Etihad's A380 on Abu Dhabi-NYC Route

Etihad's A380 Boosts US Capacity, Enhancing Connections to Middle East & Indian Subcontinent

Rishi Sunak Successfully Passes Rwanda Bill in Parliament: Key Details

Rishi Sunak's Rwanda Bill mandates judges to recognize the East African nation as a safe haven.

Dubai Airports Fully Operational as Flood-Cleared Roads Restore Accessibility

Numerous aviation sector workers collaborated to resume operations and assist guests at DXB and DWC.

Tenants in Waterlogged UAE Areas Plan Relocation

Some residents continue to grapple with flooded streets, hindering their return to normalcy even six days after the rains.

Parents Arrested After 9-Year-Old Dies of Asthma, Neglected for 3 Hours

The incident occurred in February, yet the parents faced charges this week, potentially leading to a decade behind bars.

Dubai exempts visa overstay fines for travelers stranded by rain.

Overstayers incur a daily fine of Dh50, as per uniform visa rules implemented in 2023.

Government Considers Stake Sale in Five PSBs Amid Low Public Float

Govt's large stakes in five PSBs, buoyed by capital infusion from FY17 to FY22 to offset NPA-related stress, could be up for sale.

Yashasvi Jaiswal delighted with match-winning century against MI.

Yashasvi Jaiswal's century came off 60 balls with a strike rate of 173.33. He hit 9 fours and 7 sixes during his innings.

Mira Rajput Stuns in Classic Black Slip Dress on Mumbai Date Night

Mira Rajput and Shahid Kapoor enjoyed a romantic date night in Mumbai.

Schengen Visa Rules Updated: Longer Validity for Indians

EU introduces 'cascade' visa scheme for Indian residents, simplifying Schengen visa process.

Dar Global partners with Aston Martin for opulent beachfront residences in Ras Al Khaimah, UAE

The collaboration marks Aston Martin's inaugural real estate venture in the Gulf Cooperation Council (GCC) region.

Gaza Hospital Exhumes Around 200 Bodies Since Saturday: Official

Civil defense personnel continue to retrieve bodies from within Nasser Medical Complex, according to the spokesperson.

Dubai Gold Prices Dive: Dh10 per Gram within 24 Hours

Experts attribute the gold price decline to easing geopolitical tensions in the Middle East.

Tejas Networks shares surge 15% on Q4 profit spike, hit record.

In Q4FY24, the company achieved profitability, marking a notable turnaround from nine consecutive quarters of net losses.

Irfan Pathan Criticizes Hardik Pandya's Batting Prowess in Unfiltered Remarks

In eight matches, Hardik Pandya has managed only 151 runs at a strike rate of 142.45.

Get In Touch

3001E, 30 Floor, Aspin Commercial Tower, Sheikh Zayed Road, Dubai, UAE

+971 56 450 3476

Follow Us

© DNN. All Rights Reserved.