Mumbai’s luxury property market posted its strongest first half-year performance on record in 2026, driven by increased sales in the Rs 10 crore+ segment, although analysts warn growth may ease due to economic factors.
Mumbai’s luxury housing market posted its strongest half-year performance on record in the first six months of 2026, with sales value reaching Rs 18,512 crore, according to a joint report from India Sotheby’s International Realty and CRE Matrix. The figures cover homes priced at Rs 10 crore and above and point to continued appetite among wealthy buyers, even as the report warned that the pace of expansion is likely to ease after such an exceptional run. The researchers said a higher base and a more cautious outlook for the economy and equity markets could curb the speed of future gains.
Sales volumes also climbed sharply. A total of 957 luxury homes changed hands in the first half, up 26% from the same period in 2025 and 71% higher than in the first half of 2023. Over the past 12 months, nearly 1,700 luxury units were sold, the highest annual tally yet for the segment. The strongest momentum came in the Rs 20 crore to Rs 40 crore range, where transactions more than doubled from 66 units in the first half of 2023 to 156 units in the first half of 2026. Homes priced above Rs 40 crore also remained active, with 41 deals recorded in the period.
The report suggested that this was still a market driven more by end users than by speculative buying. Sudershan Sharma, executive director at India Sotheby’s International Realty, said the first half of 2026 showed Mumbai’s luxury property market to be among the country’s most resilient, adding that continued momentum would support “continued, cautious, end-user driven growth”. That view follows a strong 2025, when earlier CRE Matrix data showed Mumbai’s luxury sales had already hit record levels and the city’s established premium districts continued to dominate demand.
Among localities, Worli stood out as the clearest winner. Transaction value there rose 79% year on year to Rs 4,493 crore, while unit sales jumped nearly 4.5 times to 159 homes, helped by a wave of new luxury launches since 2023. Lower Parel was also flagged as a market to watch, with value rising 79% to Rs 1,113 crore. Across the city, apartments of 2,000 to 4,000 sq ft accounted for 58% of primary sales, while the top 10 luxury neighbourhoods made up 80% of Mumbai’s primary luxury sales value in the half year.
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