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Wednesday, February 21, 2024

Record-breaking house-sales in top 7 cities this year


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It is estimated that the sale of houses, this year, in the top-7 cities, will go above the record 3.60 lakhs. Prior to this, the record was made in 2014, when 3.43 lakh houses were sold in these cities. This estimate has been made in a report published by property consultancy firm, Anarock.

As per the report published on Wednesday, during the first 9 months of 2022, 2.73 lakh houses were sold in these cities, and 2.65 lakh had their launching. This is more than the sales and launching from the complete 12 months of pre-COVID 2019. In 2019, in the 7 big cities, 2.61 houses were sold and 2.34 had their launching. The report suggests that the current trends hint that during the whole of 2022, 3.40 lakh houses will have their launching, with 54% of the share made up by the Mumbai Metropolitan Area (MMR) and Hyderabad.

This year, from January to September, a total of 1, 30, 450 houses were sold in Delhi-NCR and MMR, which is 48% of the total houses sold in the top-7 cities. Following which, Pune, Bengaluru, and, Hyderabad saw the highest of sales. The report further said that during July to September, the cost of houses increased by 6%, which is the highest in the last 7 years, in the meanwhile, the home-loan rate increased as well. Despite all this, the sales of houses paced up and is continuing to increase in October too.

Sonakshi Datta
Sonakshi Datta
Journalist who wants to cover the truth which others look the other way from.

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