+
Housing sales in major cities see 9-year high: Knight Frank
Real Estate

Housing sales in major cities see 9-year high: Knight Frank

Housing sales rose 60% annually in January-June this year across eight major cities. At 1,58,705 units, this was the highest half-yearly demand in nine years. It was mainly driven by lower base effect as well as mortgage rates, according to Knight Frank India.

Housing sales stood at 99,416 units in the first six months of 2021, the consultant said in its 17th edition of half-yearly report ‘India Real Estate: Residential and Office Market H1 2022’.

The report highlighted that the residential sector recorded a nine-year high sales volume in January-June 2022. The previous high was recorded in the first half of 2013, when sales were at 1,85,577 units.

Factors cited by the consultant for the increase in housing sales include homebuyers' need to upgrade primary lifestyle, low interest rates on home loans, and lower home prices compared to pre-pandemic levels. The renewed need for home ownership sparked by the Covid pandemic is also driving sales.

Housing prices increased across all markets in the range of 39 per cent year-on-year (YoY). This also marks H1 2022 as a period in which prices have grown in YoY terms across all markets for the first time since the second half of 2015.

Also Read:
RBI rate hikes, higher costs fail to deter home buyers
Housing market shows YoY increase of 3-9% 

Housing sales rose 60% annually in January-June this year across eight major cities. At 1,58,705 units, this was the highest half-yearly demand in nine years. It was mainly driven by lower base effect as well as mortgage rates, according to Knight Frank India. Housing sales stood at 99,416 units in the first six months of 2021, the consultant said in its 17th edition of half-yearly report ‘India Real Estate: Residential and Office Market H1 2022’. The report highlighted that the residential sector recorded a nine-year high sales volume in January-June 2022. The previous high was recorded in the first half of 2013, when sales were at 1,85,577 units. Factors cited by the consultant for the increase in housing sales include homebuyers' need to upgrade primary lifestyle, low interest rates on home loans, and lower home prices compared to pre-pandemic levels. The renewed need for home ownership sparked by the Covid pandemic is also driving sales. Housing prices increased across all markets in the range of 39 per cent year-on-year (YoY). This also marks H1 2022 as a period in which prices have grown in YoY terms across all markets for the first time since the second half of 2015.Also Read: RBI rate hikes, higher costs fail to deter home buyersHousing market shows YoY increase of 3-9% 

Related Stories

Gold Stories

Next Story
Infrastructure Urban

KONE Opens India's First Digital Experience Centre in Pune

KONE, a global elevator and escalator manufacturer, has inaugurated its first Digital Experience Centre (DEC) in India, located in Pune. The facility aims to showcase how artificial intelligence (AI), connectivity and data-driven technologies can enhance customer experiences and improve building operations.The centre was inaugurated by Jussi Herlin, Executive Vice Chair, KONE Corporation; Philippe Delorme, President and CEO, KONE; and Nandan Nilekani, Co-founder and Chairman of the Board, Infosys.Designed as an interactive customer environment, the facility demonstrates digital solutions cover..

Next Story
Infrastructure Urban

CII GreenCo Launches Circularity Guidelines for Indian Industry

The Confederation of Indian Industry (CII) GreenCo Council has launched the CII GreenCo Circularity Guidelines – Pilot Version at the 17th CII GreenCo Waste & Resource Management Summit 2026 in Chennai. The initiative aims to strengthen resource efficiency, waste reduction and circular economy practices across Indian manufacturing and process industries.The guidelines introduce a structured framework with circularity indices covering raw materials, consumables, packaging and other resource inputs. These indicators will help industries assess existing practices, identify opportunities to ..

Next Story
Infrastructure Energy

Global Electronics Association Launches IPC-1783-CO2E Standard

The Global Electronics Association has introduced IPC-1783-CO2E, a new international standard aimed at improving consistency, transparency and comparability in product carbon footprint reporting across the electronics manufacturing industry.The standard, titled International Standard for Data Collection and Reporting of CO2 Equivalent (CO2e) Emissions for the Electronics Manufacturing Supply Chain, provides industry-specific guidance for collecting, estimating and reporting carbon emissions data.With increasing regulatory requirements and customer expectations, electronics manufacturers face c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code