In this edition, Forbes India delves into all things luxury in real estate, from the developers building those swank homes to the evolution of architectural and design elements in these abodes
An economy is often on solid ground when prices of equities and premium real estate move northward—not perhaps at the same pace, but nevertheless in tandem. Stocks tend to provide higher returns than most asset classes and are also one of the more liquid investments. This allows investors to book partial profits and pump that surplus into property.
As the Sensex vaulted from 70,000 to 80,000 in just 58 trading sessions—the fastest 10,000-point gain in its history—investors, particularly the higher net-worth ones, would be in a mood to take some profits off the table. A reasonable deployment of those returns would be in luxury real estate, as properties of all hues mushroom—from villas and holiday homes away from the big cities to lavish apartments and penthouses in mint-new urban towers.
The rush of liquidity has resulted in a revival of sorts in property—more so at the high end. In this edition, Forbes India delves into all things luxury in real estate, from the developers building those swank homes to the evolution of architectural and design elements in these abodes.
India’s population of high net-worth individuals was pegged at roughly 36 lakh in 2023 by The Capgemini Research Institute’s 2024 World Wealth Report. These individuals, with a net worth of at least $1 million (₹8.3 crore), were collectively sitting on wealth of a mindboggling $1,446 billion in 2023, according to the report.
(This story appears in the 26 July, 2024 issue of Forbes India. To visit our Archives, click here.)