Housing sales jump by 50%, new supply by 101% in top eight cities in 2022: Report
- IBEF
- December 29, 2022
India’s residential real estate sales recorded an increase of 50% to 308,940 units on a year-on-year basis. New launches registered a growth of 101% with a total of 431,510 new homes being launched in 2022, as per PropTiger, a housing brokerage firm. The sales include eight major cities - Ahmedabad, Bangalore, Chennai, Hyderabad, Kolkata, Delhi-National Capital Region (NCR), Mumbai, and Pune.
Mr. Vikas Wadhawan, Group Chief Finance Officer, PropTiger said that housing sales have strongly increased this year and the industry is further witnessing higher demand.
The report revealed that approximately 26% of the sales were concentrated in the US$ 54,000 - US$ 91,000 (Rs. 45- 75 lakh) price range. 21% of the units sold were in ready to move category while the remaining 79% were under construction in 2022.
The improvement in sales in the real estate sector enabled the lowering of the burden of the real estate developers.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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