+
 Housing sales notes 75% growth in H1 2021: CBRE South Asia
Real Estate

Housing sales notes 75% growth in H1 2021: CBRE South Asia

According to a recent report by CBRE South Asia, housing sales increased by more than 75% year over year in the top seven cities in H1 2021.

Pune led sales activity with a 26% share, followed by Mumbai (19%). Hyderabad and Delhi-NCR were closely followed with 18% and 17% of the market share, respectively.

Anshuman Magazine, Chairman, India & South-East Asia, Middle East & Africa, CBRE told the media that In India, the residential segment has played a significant role in the growth of the real estate sector. The initiatives taken by the federal and state governments have been critical and commendable for the residential sector's revival.

Housing sales have been boosted by policy initiatives from the federal and state governments, as well as lower lending rates, according to the report. To boost housing sales, states such as Karnataka, Telangana, Maharashtra, and Tamil Nadu have implemented stamp duty reductions and property tax rebates.

Since 2010, while property prices have grown at a CAGR of 1 to 6% in the high-end segment and around 2 to 7% in the mid-segment, per capita GDP has grown at a CAGR of 4% between 2010 and 2020.

Although the residential sector is showing signs of recovery, developers are still dealing with issues such as limited credit availability, tax and regulatory complexities, and construction delays due to reverse migration labour shortages (though abated to a large extent), Higher input costs are leading to higher construction costs; several developers' highly leveraged balance sheets have added another layer of difficulty to the sector.

Image Source


Also read: Housing sales fall by 58% in 2021: PropEquity

According to a recent report by CBRE South Asia, housing sales increased by more than 75% year over year in the top seven cities in H1 2021. Pune led sales activity with a 26% share, followed by Mumbai (19%). Hyderabad and Delhi-NCR were closely followed with 18% and 17% of the market share, respectively. Anshuman Magazine, Chairman, India & South-East Asia, Middle East & Africa, CBRE told the media that In India, the residential segment has played a significant role in the growth of the real estate sector. The initiatives taken by the federal and state governments have been critical and commendable for the residential sector's revival. Housing sales have been boosted by policy initiatives from the federal and state governments, as well as lower lending rates, according to the report. To boost housing sales, states such as Karnataka, Telangana, Maharashtra, and Tamil Nadu have implemented stamp duty reductions and property tax rebates. Since 2010, while property prices have grown at a CAGR of 1 to 6% in the high-end segment and around 2 to 7% in the mid-segment, per capita GDP has grown at a CAGR of 4% between 2010 and 2020. Although the residential sector is showing signs of recovery, developers are still dealing with issues such as limited credit availability, tax and regulatory complexities, and construction delays due to reverse migration labour shortages (though abated to a large extent), Higher input costs are leading to higher construction costs; several developers' highly leveraged balance sheets have added another layer of difficulty to the sector. Image Source Also read: Housing sales fall by 58% in 2021: PropEquity

Next Story
Real Estate

Shriram Properties Launches ‘Codename: The One’ in Bengaluru

Shriram Properties (SPL), a leading real estate developer focused on the mid-market and mid-premium segments, has announced the launch of its latest residential project under the banner “Codename: The One” in Bengaluru’s Electronic City corridor. This feature-rich gated community will offer 340 spacious 2- and 3-BHK residences, with a total saleable area of approximately 5 lakh square feet and an estimated revenue potential of over Rs 3.5 billion. The project is expected to be developed over a span of more than three years.  Strategically located near the Bommasandra Metro stat..

Next Story
Resources

India Warehousing Show 2025 Closes with Strong Global Presence

The 14th edition of the India Warehousing Show (IWS) 2025 concluded successfully at Yashobhoomi (IICC), Dwarka, drawing participation from over 300 exhibitors across 15 countries and welcoming 15,000+ visitors. Recognised as India’s leading platform for warehousing and logistics excellence, IWS 2025 offered a comprehensive display of cutting-edge automation, sustainable warehousing solutions, and next-gen supply chain technologies. The show was inaugurated by Shri Pankaj Kumar, Joint Secretary – Logistics, DPIIT, Ministry of Commerce and Industry, Government of India. In his opening a..

Next Story
Equipment

MHIET Launches 450kW Gas Cogeneration System with H₂ Co-Firing

Mitsubishi Heavy Industries Engine & Turbocharger (MHIET), part of the Mitsubishi Heavy Industries Group, has launched a new 450kW gas cogeneration system, the SGP M450, jointly developed with Toho Gas Co.,. The system supports hydrogen co-firing at up to 15 vol per cent, with no loss in performance or reliability.  The system is currently available in the Japanese market, and has been developed from the existing GS6R2 city gas engine platform. Key modifications were made to the fuel gas and engine control systems to enable hydrogen co-firing.   Verified through de..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?