Housing sales up 41% in 7 cities: Anarock

Hyderabad: Defying odds like the inauspicious 'shraadh' period, excessive monsoons, and rising property prices and interest rates, housing sales momentum continued unthwarted in Q3 of 2022. Latest Anarock data reveals a 41 per cent annual rise in housing sales across top seven cities at 88,230 units in Q3 2022 against 62,800 units in the corresponding period of 2021.

MMR witnessed the highest sales of 26,400 units among the top seven cities, followed by NCR with 14,970 units. Across these cities, new launches increased 45 per cent to 93,490 units in Q3 2022, against 64,558 units in the same quarter previous year. MMR and Hyderabad witnessed the highest new launches in Q3 2022, with 36,000 units and 15,530 units respectively.

Interestingly, despite buoyant sales, NCR considerably restricted its new supply in comparison to other cities including MMR, Bengaluru, Pune, and Hyderabad. In terms of budget segments, 36 per cent of the total new supply was launched in the mid-segment (Rs 40-80 lakh), 28 per cent in the premium segment (Rs 80 lakh- 1.5 crore) while 18 per cent each in the luxury segment and affordable segments.

Anuj Puri, Chairman of Anarock Group, says, "The momentum of both housing sales and new launches stayed strong in the top seven cities in Q3 2022 despite major headwinds. The appetite for home-ownership has remained undeterred, with maximum sales being driven by the end-users. There has been increased new supply by the listed developers, who also reported robust housing sales.