Mumbai luxury housing sales touch record Rs 18,512 crore in H1 CY26: Report
Mumbai, July 30
Mumbai's luxury residential market recorded its highest-ever half-yearly sales value of Rs 18,512 crore in the first half of calendar year 2026, according to a joint report by India Sotheby's International Realty and CRE Matrix. The transaction value for homes priced at Rs 10 crore and above rose 12 per cent year-on-year from Rs 16,518 crore recorded in H1 CY25.
The report noted 957 luxury home transactions during the six-month period, reflecting a 26 per cent increase over the corresponding period of the previous year. Over the last 12 months, about 1,699 luxury units were sold in primary and secondary markets combined, representing the highest number of units ever recorded in any 12-month period, with total transaction value touching nearly Rs 34,000 crore.
Sudershan Sharma, Executive Director, India Sotheby's International Realty, said, "The first half of 2026 signals Mumbai's luxury housing market as one of India's most resilient with sales of homes priced above Rs 10 crore nearly doubling and crossing Rs 18,500 crore, the highest half-yearly transaction value on record."
"Price growth has stayed rational, with developers mindful of overpricing. Secondary markets have moved in sync with primary sales, and with momentum sustained, India's financial capital's luxury segment is positioned for continued, cautious, end-user driven growth," he added.
The Rs 20-40 crore price bracket served as a primary growth driver, with sales increasing from 66 units in H1 CY23 to 156 units in H1 CY26. Homes measuring 2,000 to 4,000 sq. ft. accounted for 58 per cent of primary market sales.
Geographically, the top 10 localities generated nearly 80 per cent of total primary luxury sales value, led by Worli with Rs 4,493 crore in sales value. Luxury resale transactions reached Rs 4,840 crore in H1, while average luxury prices eased 4 per cent to approximately Rs 72,270 per sq. ft.
Abhishek Kiran Gupta, Co-founder & CEO, CRE Matrix said, "Mumbai's luxury real estate market reached a new benchmark in H1 CY'26, recording Rs 18,512 Cr. in sales. Combined with H2 CY'25, total transaction value over the trailing 12 months approximately reached Rs 34,000 Cr. -- an all-time high."
"This period also saw ~1,700 luxury units sold, the strongest 12-month performance on record. The sustained momentum, particularly within the Rs 20-40 Cr. segment, reflects a high-end buyer who remains engaged and confident -- but increasingly deliberate in where that confidence is placed," he added.
Demographic data showed buyers aged 35 to 55 years accounted for 58 per cent of luxury home purchases in H1 CY26, while buyers aged above 65 years contributed 12 per cent of transactions.
— ANI
Reader Comments
Interesting that buyers aged 35-55 are driving this. Makes sense - that's when people have max earning potential. But at Rs 10 crore+ per home, even with 20% down payment, you need Rs 2 crore upfront. For most Mumbaikars, that's a lifetime of savings. The gap between haves and have-nots keeps widening. 😔
As someone working in finance, this data aligns with what we're seeing - HNIs are parking money in real estate as a hedge against inflation. The 12% YoY growth in luxury sales shows confidence in Mumbai's long-term value. But I'd be cautious about the Rs 20-40 crore segment; that growth rate from 66 to 156 units in 3 years might be unsustainable.
Meanwhile, the common man in Mumbai can't even afford a 1 BHK in the suburbs without a 30-year loan. This luxury market feels like a different city altogether. But having said that, if people have legitimately earned their money and want to invest in property, that's their right. Just wish there was more affordable housing too. 🏡
The report mentions 'cautious, end-user driven growth' - that's reassuring. Unlike the pre-2008 boom where speculation drove prices, this seems more grounded. The 4% price correction to Rs 72,270/sq ft in luxury segment shows the market is self-correcting. Smart buyers are waiting for the right deal rather than rushing in.
I've been tracking Mumbai real estate for 15 years. The Rs
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