+
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% 

Next Story
Technology

Six ways a smarter workflow leads to faster, more accurate bids

In today’s fast-paced civil construction environment, estimators need more than just solid numbers. They need smart, streamlined processes. This article explores six key ways connected workflows can transform the estimated approach, help in minimising risk, move faster, and improve accuracy. By integrating tools, data, and teams, one can produce stronger bids with less rework, fewer surprises, and more confidence. As an estimator, the job goes beyond producing numbers. They are responsible for delivering bids that are fast, accurate, and built to win. In today’s civil construction ind..

Next Story
Real Estate

Experion Launches Women-Only Co-Living Project in Greater Noida

Experion, part of Singapore-based AT Capital Group, has launched its first co-living space under its managed rental housing brand, VLIV, in Greater Noida. The all-women residence features 730 twin-sharing beds with a strong focus on safety, comfort, and well-being. VLIV has committed a $300 million investment to create a structured, service-led rental housing ecosystem in India. The brand aims to scale up to 20,000 beds in the next few years, with a long-term target of 100,000 beds nationwide. “India’s rental housing is fragmented. VLIV is our way of building long-term, dependabl..

Next Story
Infrastructure Urban

Officine Maccaferri Acquires CPT to Bolster Tunnelling Tech

Ambienta’s platform company, Officine Maccaferri S.p.A., has acquired CPT Group, a leading Italian developer of robotic prefabrication systems and digital control technologies for mechanised tunnelling. The move positions Maccaferri as a global player in integrated tunnelling solutions, blending traditional and advanced mechanised systems. Based in Nova Milanese, CPT serves major global contractors across Europe, Southeast Asia, and Australia. The company offers robotic prefabrication (Robofactory), productivity-monitoring software for Tunnel Boring Machines (TBMs), and eco-designed spa..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?