Summary of this article
Transaction value rose 12 per cent from Rs 16,518 crore a year earlier, while the number of deals jumped 26 per cent to 957 homes.
Homes priced between Rs 20 crore and Rs 40 crore have attracted far more buyers than they did a few years ago.
Luxury buyers also appear to have a clear preference when it comes to size. Apartments measuring between 2,000 sq. ft. and 4,000 sq. ft. accounted for more than half of all primary market sales.
Mumbai's luxury housing market is showing little sign of slowing down. Homes priced at Rs 10 crore and above clocked transactions worth Rs 18,512 crore during the first six months of 2026, the highest ever recorded for any January-June period, as wealthy buyers continued to snap up premium properties despite a high base.
The latest Mumbai Luxury Housing Report – H1 CY'26, released by India Sotheby's International Realty (India SIR) and CRE Matrix, shows that the city's luxury housing market remained firmly on a growth trajectory. Transaction value rose 12 per cent from Rs 16,518 crore a year earlier, while the number of deals jumped 26 per cent to 957 homes.
The momentum has been building for some time. In fact, the luxury segment has almost doubled in size over the past five years. Over the last 12 months alone, nearly 1,700 homes priced above Rs 10 crore were sold, generating close to Rs 34,000 crore in transactions - the strongest 12-month performance the city has seen so far.
Interestingly, the surge in sales hasn't been accompanied by runaway prices. After climbing 37 per cent between 2021 and 2025, prices in the Rs 10-crore-plus segment have eased around 4 per cent so far this year. That suggests developers are focusing on realistic pricing rather than stretching valuations.
One segment, however, continues to stand out. Homes priced between Rs 20 crore and Rs 40 crore have attracted far more buyers than they did a few years ago. Sales in this bracket have risen from just 66 units in the first half of 2023 to 156 units in the corresponding period this year.
Luxury buyers also appear to have a clear preference when it comes to size. Apartments measuring between 2,000 sq. ft. and 4,000 sq. ft. accounted for more than half of all primary market sales. At the same time, nearly one in five buyers in Mumbai's leading luxury locations upgraded from neighbourhoods outside South Mumbai, pointing to a growing pool of affluent homebuyers willing to move into the city's premium addresses.
Location continues to matter. Worli emerged as the busiest luxury housing market during the period, with transactions worth Rs 4,493 crore, up 79 per cent from a year ago. Unit sales there jumped from just 35 homes in the first half of 2025 to 159 this year. Lower Parel also reported strong growth, with transaction value rising by 79 per cent.
The buyer mix is evolving, too. People between 35 and 55 years accounted for the bulk of luxury home purchases, contributing 58 per cent of all transactions. Buyers aged over 65 also remained active, accounting for 12 per cent of purchases, indicating that demand is being driven by both new wealth creators and long-established affluent families.
Commenting on the report, Sudershan Sharma, Executive Director, India Sotheby's International Realty, noted: “This year's first half illustrates Mumbai's luxury housing market as one of the most resilient across India. Sales of homes priced over Rs 10 crore almost doubled to breach the Rs 18,500 crore-mark, the highest ever half-yearly transaction value. While traditional micro-markets such as Worli, Tardeo, Lower Parel and Bandra West continue to dominate due to improved infrastructure and quality launches, Worli led the race and reinforced its position as Mumbai's most sought-after address. We've also seen prices rising at a rational rate, with developers being cautious of overheating. Secondary markets have tracked well with primary sales, and with the momentum already building, luxury housing in India's financial capital is expected to see more of the same cautious yet healthy growth led by end-users.”
