So far this year i.e. in Q1 2022, around 99,550 houses were sold. In terms of figures, it has seen a significant increase of 71 percent as compared to the first quarter of 2021. Anarock, in its report released on April 1, said that NCR, MMR, Bengaluru, Pune and Hyderabad (NCR, MMR, Bengaluru, Pune, and Hyderabad) together accounted for 89 percent of sales in the first quarter of this year.
Two major realty hotspots MMR and NCR contributed over 48 per cent of the total sales in the top seven cities. On the other hand, NCR has seen an annual jump of more than 114 percent.
The top 7 cities saw a 43 percent year-on-year growth in new launches. There are 89,150 new homes to be built in the first quarter of 2022 as compared to 62,130 in the first quarter of 2021. As in the previous quarter, MMR and Hyderabad saw a higher number of new homes. They contributed 51 percent of the new launches in the top 7 cities. The number of new homes in the two cities increased annually by 59 percent and 71 percent, respectively.
Major cities that contributed to new launches in the first quarter of 2022 include MMR (Mumbai Metropolitan Region), Hyderabad, Pune and Bengaluru. These cities together contributed 82 per cent of the new supply.
Average property prices in the top 7 cities saw an increase of 4 per cent annually.
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The report said that the average residential property prices in the top 7 cities increased by 2-5 per cent in Q1 2022 as compared to Q1 2021. These increases were observed mainly due to increase in raw material prices. Hyderabad recorded the highest 5 percent annual jump in house prices.
Anuj Puri, Chairman – ANAROCK Group, said, “The growth in the housing market continued in the first quarter of 2022, showing sales growth of around 10 per cent quarterly and 71 per cent year-on-year. In terms of sales, this was the biggest quarter since 2015.”
“The impact of the third wave of COVID-19 was much less than the previous two waves. There was a sharp jump in home sales due to increased home buying desire and fears of price hikes amid the pandemic,” he said.
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