Mumbai

Post-COVID, senior citizens lead the charge in Mumbai's property boom, with 204% registration hike

A Knight Frank India study highlights a shift in purchasing preferences post pandemic.

Khushboo Ali

In a surprising twist to Mumbai's real estate scene, senior citizens are emerging as the new power players in property purchases. A recent Knight Frank India study reveals a staggering 204% surge in property registrations among the 61+ age group, jumping from 7,554 in 2020 to 15,276 in 2024.

Senior citizens now account for 18% of total property registrations, up from 12% in 2020.

Post-pandemic trends redefine Mumbai’s property market

This trend reflects a shift in lifestyle preferences following the Covid-19 pandemic, with many elderly buyers opting for larger homes to accommodate extended families. Shishir Baijal, Chairman of Knight Frank India, noted that the pandemic-driven demand for better living conditions has influenced this surge. By year-end, property registrations by senior citizens are expected to surpass 23,000, maintaining their 18% market share.

Interestingly, while the 61+ age group has seen the most growth, the traditionally dominant 30-45 age group has experienced a decline in market share, dropping from 48% in 2020 to 40% in 2024.

This shift underscores the evolving dynamics of Mumbai's real estate market, where seniors are increasingly driving demand.

To get all the latest content, download our mobile application. Available for both iOS & Android devices. 

Maratha Military Forts earn UNESCO World Heritage tag, marks India’s 44th entry

Teej & Rakhi plans? Start with your festive shopping at Ikaai on July 15 in Lucknow

No permits, no ride! Uber Shuttle to exit Mumbai roads from July 12

Maharashtra declares ‘Sarvajanik Ganeshotsav’ as State Festival, lifts POP idol ban

Mumbai's CSMIA tops global list of densely surrounded airports, Ahmedabad at #12

SCROLL FOR NEXT