Key Points
The high-end and luxury segment continued to drive growth of the real estate sector with 34% share in new launches in the first quarter of 2024, said a report by Cushman & Wakefield.y)..
While the total launches represent a modest 7% decline from a strong Q4 2023 (74,344 units) and a 15% decrease compared to Q1 2023 (81,167 units), it remains above the average quarterly launches observed in 2022 (67,960 units), another positive year for the sector..
The high-end and luxury segment continued its reign in the quarter, capturing approximately 34% of launches in Q1-2024, a trend that began in recent years and reflects evolving homebuyer aspirations for enhanced lifestyles..
Developers may be hesitant to invest in this segment due to potentially lower margins and stricter regulations for claiming incentives, particularly when high-end and luxury, and mid-segments are experiencing high demand..
In NCR, high-end and luxury captures 61% of the total launches, with Gurugram leading the way and Noida contributing the highest of the mid-segment launches (26%) ..
