India see rise in “Super Luxury” Real Estate

November 16, 2009 - India

Boasting the second highest international growth in number of HNWIs (high net worth individuals), India's highest end niche in luxury property prospers despite overall stagnation in the country's real estate market.

In cities where individual affluence and disposable income is on the rise (specifically Mumbai) super premium housing is growing at a rate of 25-30 percent.

Developers are racing to meet demand, building everything from costly condos to suburban town houses and golf villas.

Also fueling development are young families breaking with tradition and pouring inheritance into new real estate.

Among the most exclusive residences popping up are the so-called "Presidential Apartments," which generally occupy entire floors 1,200-2,100 sqm in area, with as many as 10 bedrooms.

www.indiaprwire.com

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