Due to strong demand, India’s housing sales reach an all-time high in 2022: Anarock
According to data provided by Anarock, India’s housing revenue reached an all-time high in 2022, surpassing the previous high set in 2014. This was due to strong demand for residential properties despite an increase in loan rates.
The housing income in 2022 will be close to 3.65 lakh units across seven major cities. According to the report, the costs of residential dwellings have increased by 4–7 percentage points, which may be ascribed to the growth in entry costs and the need for return after Covid.
According to data from India’s top residential primary (clean sale) markets released by real estate agent Anarock, housing revenue increased by fifty-four percent this year to 3,64,900 units from 2,36,500 units in 2021 across the seven cities of Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Bengaluru, Hyderabad, and Pune. The MMR market registered the most revenue in 2022, clocking 1,09,700 units, followed by NCR at 63,700 units.
The housing income in Delhi-NCR increased by 59% percentage points from 40,053 items within the previous year to 63,712 items in 2022, according to the facts. In Maharashtra, the MMR market had a forty-four percent increase in revenue to 1,09,733 items this year from 76,396 items within the 2021 calendar year, while Pune saw a fifty-nine percent increase to 57,146 items from 35,975 items. Bengaluru’s housing income increased 50% yearly to 49,478 items this year from 33,084 items in 2021. Residential property income in Hyderabad increased by 87 percentage points to 47,487 units in 2022 from 25,406 units in the previous year. Residential property income in Chennai increased 29 percentage points to 16,097 gadgets from 12,525 gadgets.
The Kolkata market reported a 62 percent increase in revenue to 21,220 items this year from 13,077 items last year.
In terms of fresh supply, Anarock reported that new launches in the top seven cities saw a fifty-one percent yearly increase to 3,57,600 items in 2022 from 2,36,700 items in 2021. The majority of new launches in 2022 occurred in MMR and Hyderabad, which together accounted for about fifty-four percent of all new launches that year.
According to Anarock Group Chairman, “2022 has been a great year for residential real estate despite all obstacles, like rising real estate costs, hobby price rises, and geopolitical uncertainties, etc.” While it was widely anticipated that rising property costs and hobby costs in the second half of 2022 would have a cascading impact on residential income, Puri said that Q4 2022 (October-December) “remained relatively robust with as many as 92, 160 items provided within the time.”
The unsold stock decreased by 1% in the December quarter among the top 7 cities, falling to 6,30,953 items. Chairman of Signature Global, Pradeep Aggarwal, who is located in Gurugram, said, “The real estate had a sharp recovery in 2022 amidst an increase in demand from former consumers. The lower priced and mid-phase divisions of the market stood out even though all areas of the market benefited from the increase in demand.” According to Harsh Trehan, Managing Director of the Trehan Group, the real estate market has been struggling since 2013–2014, but 2022 has turned out to be a turning point.
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