In contrast to 2021, when 2,36,500 housing units were sold in the top seven cities, about 3,64,900 units were sold in 2022.
Hyderabad: 2022 has been a fantastic year for residential real estate despite the gradual increase in property prices and home loan interest rates.
In contrast to the 2,36,500 housing units sold in the top seven cities in 2021, around 3,64,900 units were sold in 2022. This is an increase of 54% over last year. In Hyderabad, sales increased by 87%. 3.43 lakh units were sold during the latest high in 2014, which was witnessed.
The Mumbai Metropolitan Region (MMR) saw the greatest sales in terms of cities in 2022 with 1,09,700 units sold, followed by NCR with 63,700 units. There were 47,487 sold in Hyderabad.
Between 2021 and 2022, the number of new launches in the leading cities increased by 51% annually, from 2,36,700 units to around 3,57,600 new units.
In 2022, MMR experienced the greatest number of new releases (1,24,650 units). Hyderabad launched 68,000 units in 2022 as opposed to 51,500 units in 2021 as a result. 54% of all residential debuts that year were launched in both cities.
“Despite all the challenges, such as growing real estate costs, interest rate increases, and geopolitical concerns, 2022 has been a wonderful year for residential real estate. housing sales exceeded in the top 7 cities the prior highs of 2014, although fresh launches remained limited in contrast, according to Anarock Group Chairman Anuj Puri.
“We expect the housing sector’s current sales momentum to continue in the first quarter of 2023. The desire to purchase a home has not diminished, and end consumers are the major drivers of sales. The future of home loan interest rates will be highly influenced, he added.
Buyer demand for ready-to-move-in properties will remain at the top. The demand for fresh releases will also increase. The major, publicly traded developers will continue to rule the market. Buyers have faith in these developers, therefore they will continue to perform well and generate substantial sales, just as They did, he said, in 2022.
