Housing sales surged 33% YoY in 2023, reach record high

In the calendar year 2023, residential real estate sales in India reached the highest levels since the peak in 2013, experiencing a notable 33% year-on-year growth, as reported in the latest findings by PropTiger.com, a part of REA India. India witnessed robust double-digit growth in demand and new supply throughout 2023, with the latter reaching an unprecedented high and sales velocity maintaining its momentum.

The year 2023 saw the launch of a total of 517,071 units, marking a substantial 20% year-on-year increase from the 431,510 units launched in 2022. Mumbai, Pune, and Hyderabad emerged as frontrunners, collectively contributing to a 70% share in the overall new launches for 2023.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.