Housing Sales in Top 7 Cities Breach Previous High of 2014
Housing Sales in Top 7 Cities Scale New Peak in 2022, Breach Previous high of 2014 – ANAROCK. Approx. 3,64,900 units sold in 2022 against 2,36,500 units in 2021 across the top 7 cities, rising by 54% yearly; the last peak was seen in 2014 when 3.43 lakh units were sold. MMR records the highest sales of approx. 1,09,700 units in 2022, followed by NCR with approx. 63,700 units. Nearly 3,57,600 new units were launched in 2022 against 2,36,700 units in 2021, rising by 51% y-o-y; total new launches in 2022 remain lower than the previous peak of 2014 when >5.45 lakh units were launched in the top 7 cities. MMR & Hyderabad witness maximum new launches in 2022, together accounting for nearly 54% of total new launches in the year. 35% of total new supply was in the price bracket of INR 40 – 80 lakh, 28% in INR 80 lakh - INR 1.5 Cr budget & 17% in the ticket price of > INR 1.5 Cr. NCR restricts new supply in 2022 to approx. 22,350 units despite robust housing sales of 63,700 units. Available inventory decreased by a mere 1% in 2022 over 2021 due to robust new housing supply during the year. Residential prices across the top 7 cities rise between 4-7% annually. Despite the gradual hike in property prices and home loan interest rates in 2022, it has been a fantastic year for residential real estate. Housing sales in the top 7 cities have created a new peak in 2022, breaching the previous high of 2014. Approx. 3,64,900 units were sold in 2022 against 2,36,500 units in 2021 across the top 7 cities – rising by 54% on Y-o-Y. The last peak was seen in 2014 when 3.43 lakh units were sold across the top 7 cities. In terms of cities, MMR witnessed the highest sales of approx. 1,09,700 units in 2022, followed by NCR with approx. 63,700 units. The two realty hotspots are together once again the leading residential markets. Meanwhile, new launches across the top 7 cities saw 51% annual rise – from 2,36,700 units in 2021 to nearly 3,57,600 new units in 2022. MMR and Hyderabad witnessed maximum new launches in 2022, together comprising nearly 54% share of the total new launches in the year. Residential sales stood at approx. 3,64,900 units in 2022 against 2,36,500 units in 2021 across the top 7 cities – rising yearly by 54%. NCR, MMR, Bengaluru, Pune, and Hyderabad together accounted for 90% of the sales in the quarter.
Tags : Housing Sales cities scale peak Anarock Hyderabad residential sales