India: Year 2022 witnessed record-high housing sales
According to fresh data, 2022 saw record-high home sales and new construction across the top seven cities in the nation. According to data from real estate services provider ANAROCK, unit completions also held the top spot from 2017 to 2022. In these cities, over 4.02 lakh residences were finished in 2022, which is roughly 44% more than in 2021, when 2.79 lakh units were finished. The majority of the finished residences in 2022—almost 1,26,720 units, or over 80% more than in 2021—were in MMR (when approximately 70,500 units were completed).
In the NCR, 86,300 units—or nearly the same amount as in 2021—were constructed in 2022. (86,590 units). pune saw the completion of almost 84,200 units in 2022 compared to 46,080 units in 2021. Similar to this, 81,580 units were finished in Bengaluru, Hyderabad, and chennai as a whole in 2022 as opposed to 63,870 units in 2021. Approximately 23,190 units were finished in kolkata in 2022 compared to 11,620 units in 2021.
"2022 was a watershed year for the indian housing sector, with sales breaking the previous peak levels of 2014," remarked Anuj Puri, Chairman of ANAROCK Group. Developers stayed committed to completing their previously started projects in response to this increased demand. Between 2017 and 2022, 4.02 lakh units were completed at the greatest rate in the top seven cities in 2022.