India Sotheby's Luxury Property Sales Increase by 50% in FY23

India Sotheby's Luxury Property Sales Jump by 50% in FY23

During fiscal year 2023, India Sotheby's International Realty (India SIR) saw a 50 percent rise in gross property sale turnover compared to fiscal year 2022, as demand for high-end real estate in the country decreased after the pandemic.

In FY23, the corporation realised $450 million in sales of real estate, up from $300 million in FY22.

The company has increased its property portfolio, presently valued at over $1 billion, by more than 30%. The business specialises in luxury residential sales and significant capital market property transactions.

According to Amit Goyal, SIR's Managing Director for India, Sri Lanka, and the Maldives - their target market for high-end properties consisted of high-ranking executives, professionals, and entrepreneurs wishing to upgrade their standard of living. Sixty-one percent of high-net-worth individuals and ultra-high-net-worth individuals who participated in their annual survey stated that real estate was an attractive investment choice for 2023-24.

In its tenth year of business, India Sotheby's International Realty (India SIR) expected to reach a sales transaction turnover of $1 billion in FY24, according to company president Anil Goyal. The company had already established a strong presence in the Delhi NCR, South India, and Goa.