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Exploring the Upsurge in Luxury Real Estate: Factors and Challenges

In: The Evolution of Luxury Brands, Volume II

Author

Listed:
  • Ruchika Jeswal

    (Amity University)

  • Leonidas Efthymiou

    (Department of Management, School of Business, University of Nicosia)

  • Meliz Bozat

    (Department of Management, School of Business, University of Nicosia)

Abstract

Luxury, as a concept, represents exclusivity, status, and access to pleasure beyond mere functionality. Also, investing in luxury real estate has always been a good option, especially in India. The luxury real estate market has emerged as a dynamic sector, driven by economic growth, rising disposable incomes, and shifting consumer aspirations. The demand for high-end properties has surged, reflecting a broader societal movement towards aspirational living. This trend is particularly evident in metropolitan cities like Mumbai, Delhi-NCR, and Hyderabad, where luxury housing has become a symbol of prestige and lifestyle. Despite its rapid expansion, the sector faces challenges, including regulatory constraints, market volatility, and evolving consumer preferences. The integration of smart home technology and sustainable development practices has become crucial to meeting the expectations of affluent buyers. Additionally, the increasing influence of millennials and Gen Z has redefined luxury, prioritizing individuality, and experiential value over traditional notions of opulence. This study explores the key players, driving forces, and challenges in India’s luxury real estate market while highlighting strategic opportunities for developers and investors.

Suggested Citation

  • Ruchika Jeswal & Leonidas Efthymiou & Meliz Bozat, 2025. "Exploring the Upsurge in Luxury Real Estate: Factors and Challenges," Palgrave Studies in Cross-disciplinary Business Research, In Association with EuroMed Academy of Business, in: Alkis Thrassou & Demetris Vrontis & Leonidas Efthymiou & Yaakov Weber & S. M. Riad Shams & Evangelos (ed.), The Evolution of Luxury Brands, Volume II, chapter 0, pages 251-272, Palgrave Macmillan.
    • Handle: RePEc:pal:pscchp:978-3-031-96680-4_9
    DOI: 10.1007/978-3-031-96680-4_9
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