Housing sales at 9-yr high

Realty Bytes

- Change in attitude towards home ownership

- Return to work

- Increased hiring and proliferation of e-commerce

- Economic stability

New Delhi: With the opening up of the economy post the Covid pandemic, Knight Frank on Tuesday said housing sales rose 34 per cent to a 9-year high and gross office leasing grew 36 per cent during 2022 across eight major cities.

While housing sales rose 34 per cent to 3,12,666 units in 2022 across eight major cities, the gross leasing of office space increased 36 per cent to 51.6 million square feet. In a virtual press conference, real estate consultant Knight Frank India released the 18th edition of a half-yearly report that tracks property markets of top eight cities.

Knight Frank India CMD Shishir Baijal said housing sales have registered a growth in 2022, despite rise in prices and also an increase in interest rates on home loans. As per the data, Mumbai led residential sales in 2022 with 85,169 units, up 35 per cent from the previous year. Delhi-NCR saw a 67 per cent growth in sales to 58,460 units, while Bengaluru witnessed a 40 per cent rise to 53,363 units. Housing sales in Pune increased 17 per cent to 43,410 units. Sales of residential properties in Hyderabad went up 28 per cent to 31,046 units last year. Chennai saw a 19 per cent growth in sales to 14,248 units, while Ahmedabad witnessed an increase of 58 per cent to 14,062 units. Kolkata was the only city that saw a decline of 10 per cent to 12,909 units.