By Admin Posted Jun 12, 2019 In Market trends and insights
Mumbai offers the top luxury real estate market in India. The demand for luxury residences has been on the rise with some of the leading real estate builders catering to this segment’s premium users. Here’s a look at the reasons that have catapulted Mumbai as the “Luxury Capital” of the country.
1: Ultra-Premium Localities
Mumbai is known for its prestigious locations that have become luxury hotspots. Owning a residence here is a status symbol in its own right. The luxury realty market has been attracting investors within and outside the city. There has been a 30% increase in the sale of luxury residential spaces between 2017 and 2018.
2: High Net Worth Buyers
Mumbai is home to some of the crème-de-la-crème in the country. From top industrialists, business families, young entrepreneurs, NRIs and, of course, the Bollywood Film Industry, everyone has earned crores of profits. With enough capital amassed to invest in luxury real estate, the high net worth fraternity in Mumbai purchase residences that reflect their calibre.
3: Standard Of Living
The financial capital has a higher quality of living than the rest of India. Corporate classes are paid a better pay-check and most well-travelled citizens yearn for a lifestyle that resembles international standards of style and sophistication. This too has led to the demand in luxury residences in Mumbai.
The only thing that Mumbai lacks in is the luxury of space. In spite of this setback, the city continues to rule as the financial and luxury capital of India. If you too wish to invest in Mumbai’s luxury residences, check out Runwal Bliss. The exquisite project offers 2 & 3 BHK luxury flats in Kanjurmarg East and is by one of Mumbai’s leading developers.