Dedicated locality research platform
Enter your email address and you will receive
a link to reset your password
According to a study published by PropTiger, real estate sales in the past year grew by a staggering 50 percent with a 101 percent increase in the number of new launches across the top eight cities in India. Mumbai and Pune led the property demand in 2022, with a combined share of 56 per cent in overall sales in 2022. Experts see 2023 as a year of smooth sailing for the real estate sector even with the steady increase in interest rates for home loans and hikes in property prices.
Nearly 26 percent of the sales were concentrated in the Rs 45-75 lakh price bracket as far as individual properties are concerned. Another point of note is that sales of units in the more than Rs 1 crore price bracket has seen steady growth. This can be attributed to the fact that most of the new supply of properties in 2022 was concentrated in the Rs 1-3 crore price bracket, commanding nearly 28 percent of all new launches.
Mumbai and Pune led property demand in 2022, taking a combined share of 56 percent in overall sales. Data shows the demand grew both sequentially and yearly in all four quarters of the year. In the south Hyderabad has fast picked up and outperformed its southern counterparts, Bengaluru, and Chennai. Mumbai led new supply in 2022 with a 39 percent share in overall launches, followed by Hyderabad with 19 percent and Pune with 18 percent.
In 2022 residential demand was on par with pre-pandemic levels. While there has been a steady climb in home loan interest rates, end user interest has and is foreseen to continue to maintain demand in the sector. The study conducted by PropTiger includes sales data across the top 8 cities in the country, namely being Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Delhi-NCR, MMR, and Pune. The demand and supply trends observed in 2022 are expected to continue and bolster in 2023 with increased absorption, decreased vacancy rates, strong ROI, more considerable NRI and FDI investment and solidified government initiatives.
Propscience is India’s dedicated property news portal. We cover the latest events, news, trends, deals, new launches and more.
All our services and tools are completely free of cost and available 24X7!
We use cookies to give you the best possible service while using our website, please click accept and carry on browsing if you're happy with this. For more information see our Privacy Policy.
Okay, Got it!This disclaimer ("Disclaimer") is applicable to the entire Site. Upon entering the Site it is recommended that you immediately read the Terms and Conditions and Privacy Policy listed therein. Your continued usage of this Site will indicate your unconditional acceptance of the said Terms and Conditions and Privacy Policy. You hereby agree that Propscience reserves the right to modify at any time, the Terms and Conditions and Privacy Policy governing this Site without prior notification. Your usage of the Site implies that you will be bound by any such modification. You agree and acknowledge that it is your responsibility to periodically visit the Site and stay updated with the Terms and Conditions and Privacy Policy of the Website.
The information contained in this Site has been provided by Propscience for information purposes only. This information does not constitute legal, professional or commercial advice. Communication, content and material within the Site may include photographs and conceptual representations of projects under development. All computer-generated images shown on the Site are only indicative of actual designs and are sourced from third party sites.
The information on this Site may contain certain technical inaccuracies and typographical errors. Any errors or omissions brought to the attention of Propscience will be corrected as soon as possible. The content of this Site is being constantly modified to meet the terms, stipulations and recommendations of the Real Estate Regulation Act, 2016 ("RERA") and rules made thereunder and may vary from the content available as of date. All content may be updated from time to time and may at times be out of date. Propscience accepts no responsibility for keeping the information in this website up to date or any liability whatsoever for any failure to do so.
While every care has been taken to ensure that the content is useful, reliable and accurate, all content and information on the Site is provided on an "as is" and "as available" basis. Propscience does not accept any responsibility or liability with regard to the content, accuracy, legality and reliability of the information provided herein, or, for any loss or damage caused arising directly or indirectly in connection with reliance on the use of such information. No information given under this Site creates a warranty or expands the scope of any warranty that cannot be disclaimed under applicable law.
This Site provides links to other websites owned by third parties. Any reference or mention to third party websites, projects or services is for purely informational purposes only. This information does not constitute either an endorsement or a recommendation. Propscience accepts no responsibility for the content, reliability and information provided on these third-party websites. Propscience will not be held liable for any personal information of data collected by these third parties or for any virus or destructive properties that may be present on these third-party sites.
Your use of the Site is solely at your own risk. You agree and acknowledge that you are solely responsible for any action you take based upon this content and that Propscience is not liable for the same. All details regarding a project/property provided on this Site are updated on the basis of information available from the respective developers/owners/promoters. All such information will not be construed as an advertisement. To find out more about a project / development, please register/contact us to visit the site you are interested in. All decisions taken by you in this regard will be taken independently and Propscience will not be liable for any such loss in connection with the same. This Site is for guidance only. Your use of this Site - including any suggestions set out in the Site and or any use of the resources available on this Site, do not create any professional - client relationship between you and Propscience. Propscience cannot accept you as a client until certain formalities and requirements are met.
We use cookies to give you the best possible service while using our website, please accept it and continue browsing if you're happy with this. For more information see our Privacy Policy