In contrast to the 2,36,500 housing units sold in the top seven cities in 2021, approximately 3,64,900 units were sold in 2022. This is an increase of 54% from last year. In Hyderabad, sales increased by 87%. 3.43 lakh units were sold during the last peak in 2014, which was seen.
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 launches (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 launches 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.” Anuj Puri, Chairman, Anarock Group: "Housing sales in the top 7 cities exceeded prior highs from 2014 but new launches remained constrained.
He said,Buyer demand for ready-to-move-in properties will remain at the top. The demand for fresh releases will also increase. The large, publicly traded developers will continue to rule the market. Customers have faith in these developers, therefore they will continue to perform well and generate sizable sales, just like they did in 2022.
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