India's top 7 cities register record housing sales in 2022 at almost 3.65 lakh units: Anarock
The Hindu
Unsold inventory declined 1% in the December quarter across the top 7 cities to 6,30,953 units
Housing sales hit an all-time high this year to almost 3.65 lakh units across seven major cities, beating the previous high of 2014, on strong demand for residential properties despite a hike in mortgage rates, according to Anarock.
The prices of residential properties have risen in the range of 4-7% primarily due to an increase in the input costs and demand comeback post-COVID, it said.
Releasing the demand-supply data of India's top residential primary (fresh sale) markets, property consultant Anarock said that the housing sales rose 54% this year to 3,64,900 units as against 2,36,500 units in 2021 across the seven cities — Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Bengaluru, Hyderabad and Pune.
The last peak was seen in 2014 when 3.43 lakh units were sold across the top 7 cities.
The MMR market clocked the highest sales of 1,09,700 units in 2022, followed by NCR at 63,700 units.
According to the data, the housing sales in Delhi-NCR rose 59% to 63,712 units in 2022, from 40,053 units in the previous year.
In Maharashtra, the MMR market saw a 44% increase in sales to 1,09,733 units this year, from 76,396 units in the 2021 calendar year, while Pune witnessed 59% rise to 57,146 units from 35,975 units.