The first quarter of 2023 witnessed rise in sale of apartments which is high in past 15 years. This record only registers number of apartments sold in top seven Indian cities. The sales figure rose by 20% calculating to 62,040 housing units.
JLL, the real estate consultant firm recently released this data. The company in a statement said, “The Indian residential market saw significant growth in Q1 2023 due to a combination of factors, such as government policies, infrastructure growth and robust launches.”
The report shows 15% growth in the sale of apartments in comparison to the last quarter. Similarly, 20% more units were sold against the same quarter of the last year. This hike takes tally to sale of over 62,000 apartments.
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The statement further states, “This marks the highest quarterly sales in the last 15 years, indicating increased consumer confidence.”
The current market trend shows with 21% sale of apartments, Bengaluru stays at the top position on the leaderboard. Mumbai, the financial capital of India is at number two position with 20.9 per cent sale. These cities are followed by Pune with 19.4% sale of housing units between January-March. The launch of multiple residential projects in high bracket by many reputed developers in the NCR region let Delhi-NCR region record a good number of sales figure.
Furthermore JLL stated, “The rise in prices seen across the spectrum of projects that have high demand and less ready-to-move inventory. Even new phases of existing housing projects are being launched at higher prices.”
