India Rises to Global Top 10 in Branded Residences: Savills Report
In a historic leap for India’s luxury real estate, the country has secured a spot among the global top 10 markets for branded residences, according to Savills’ 2024 Global Branded Residences Report. This achievement highlights India’s escalating appeal to high-net-worth individuals (HNWIs) and marks a transformative phase in its premium housing sector.
What Are Branded Residences?
Branded residences are ultra-luxury properties developed in partnership with iconic hospitality brands like Four Seasons, Ritz-Carlton, and Taj. These homes combine five-star amenities—private concierge, wellness centers, and smart tech—with the prestige of a global brand. Originally popular in the U.S. and Europe, the trend has surged in Asia, with India emerging as a key player.
India’s Ranking: Key Insights
Savills reports India as the 9th-largest market globally, overtaking Japan and Australia. The country now boasts 40+ branded projects, led by:
– Mumbai: Trump Tower, Four Seasons Private Residences
– Delhi-NCR: Ritz-Carlton Residences (Gurugram), Aman New Delhi Villas
– Bengaluru & Hyderabad: Tech-driven demand for luxury living
4 Drivers of India’s Growth
- Wealth Expansion: India’s ultra-rich population grew 29% in 5 years (Knight Frank 2023).
- Global Brand Partnerships: St. Regis, JW Marriott, and Oberoi entering Indian markets.
- Post-Pandemic Demand: Buyers prioritize health-centric amenities and security.
- NRI Investments: NRIs view branded homes as high-value assets.
Challenges to Overcome
- Premium Pricing: Costs 30–50% higher than standard luxury properties.
- Regulatory Delays: Complex approvals slow project timelines.
- Supply-Demand Balance: Avoiding oversupply in competitive markets like Mumbai.
Future Outlook: Top 5 by 2030?
Savills projects India could break into the global top 5 by 2030, driven by:
– Urbanization and disposable income growth.
– Increased foreign developer interest.
– Innovation in luxury offerings (e.g., eco-friendly designs).
Expert Take
“India’s branded segment is still nascent but poised for exponential growth as international brands bring cutting-edge concepts,” says Anuj Puri, ANAROCK Chairman.
Conclusion
India’s top-10 ranking signals its ascent as a global luxury real estate hub. For investors and buyers, branded residences offer a blend of exclusivity and future-proof value—a trend set to redefine high-end living in the coming decade.
