Housing sales have risen 49 per cent year-on-year to 83,220 units in the July-September period across eight major cities on pent up demand, despite rise in interest rates and property prices, according to PropTiger.com.<\/p>\n
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Sales stood at 55,910 units in the same quarter last year.<\/p>\n
The sales have surpassed the pre-pandemic levels of 2019’s Q3 (July – September), housing brokerage firm PropTiger.com said on Thursday in its quarterly report Real Insight Residential — July-September 2022.<\/p>\n
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“The real estate industry is bouncing back from the pandemic and subsequent disruptions,” said Vikas Wadhawan, Group CFO,\u00a0 PropTiger.com, Housing.com and Makaan.com.<\/p>\n
Despite the slight increase in overall interest rates, he said the demand for housing has not dipped.<\/p>\n
He attributed the rise in demand to renewed thrust towards home ownership.<\/p>\n
As per the data, housing sales in Mumbai jumped over two-fold to 28,800 units in the third quarter of this calendar year, from 14,160 units in the corresponding period of the previous year.<\/p>\n
Pune witnessed 55 per cent growth in sales to 15,700 units from 10,130 units, Delhi NCR saw 22 per cent increase in housing sales to 5,430 units from 4,460 units.<\/p>\n
Sales in Ahmedabad rose 44 per cent to 7,880 units in July-September 2022, from 5,480 units in the year-ago period.<\/p>\n
In Bengaluru, the sales of residential properties increased 20 per cent to 7,890 units from 6,550 units.<\/p>\n
Housing sales in Hyderabad rose 35 per cent to 10,570 units from 7,810 units.<\/p>\n
However, PropTiger data showed that sales dropped by 5 per cent each in Chennai and Kolkata.<\/p>\n
Housing sales in Chennai fell to 4,420 units from 4,670 units.<\/p>\n
The sales of residential properties in Kolkata declined to 2,530 units in July-September this year, from 2,650 units in the year-ago period.<\/p>\n
Ankita Sood, Head of Research, PropTiger.com and Housing.com, said the trends signal for a positive outlook for residential realty in the coming quarters.<\/p>\n
“… Demand will continue to strengthen on the back of levers such as festive discounts and flexible payment plans, underpinned by the renewed importance of home ownership,” she said.<\/p>\n
Housing sales were badly impacted during 2020 because of the COVID-19 pandemic. However, demand has improved from July last year amid a decline in COVID cases.<\/p>\n<\/div>\n[ad_2]\n<\/p>\n
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