Construction Industry News
According to JLL India, housing unit sales, which are up 68% in 2022, will continue this year thanks to an expected slowdown in inflation and better price offers from builders.
Apartment sales in seven major cities – Mumbai, Delhi-NCR, Bengaluru, Hyderabad, Chennai, Kolkata and Pune – increased by 68% to 2,15,666 units in 2022 from 1,28,064 units the previous year.
Mumbai includes the cities of Thane, Navi Mumbai and the suburbs of Mumbai.
The largest annual sales peak was reached in 2010 with 2,16,762 units, and 2022 sales of 2,15,666 units were the highest in nearly a decade.
Only apartments are included in the data; terraced houses, villas and planned developments are excluded.
According to JLL India's outlook for the future, "Sales momentum is expected to continue into 2023 based on inflation expectations to fall, supporting a reversal in the repo rate increase."
In addition, it continued, “anticipated stakeholder actions, such as extended loan maturities and attractive pricing agreements, will keep customer affordability within comfort levels.”
According to JLL India, apartment sales have increased in 2022 despite rising mortgage rates, property values and global headwinds.
4027
6392
249
268
240
999
250
999
280
999
370
999
751
1001
370
999
192
799
1043
1799
200
499
354
1769
