Editorial Team

CBRE South Asia Pvt. Ltd., India’s leading real estate consulting firm, today announced the findings of its ‘India Market Monitor – Q1 2022’. The report highlights the growth, trends, and dynamics across various segments of the real estate sector in India.

According to the report, housing sales jumped nearly 13% Q-o-Q to more than 70,000 units in Q1 2022 and sales rebounded significantly by approximately 40% Y-o-Y. The affordable/budget segment’s share in sales remained stable at 27% in Q1 2022 vis-à-vis Q4 2021. While sales in the high-end category jumped to 23% in Q1 2022 as against 16% in Q4 2022, those in the mid-end segment dropped to 41% in this quarter. The premium and luxury housing segments also witnessed a slight uptick in sales on a Q-o-Q basis.

New unit launches jumped by nearly 30% Y-o-Y to cross the 60,000-unit mark in Q1 2022. With shares of 43% and 30%, mid-end and high-end categories dominated new launches in the country.

“The residential sector is poised for a strong 2022 as both sales and new launches are set for a robust performance after exhibiting resilience last year. Continued policy push by the government (especially to the affordable and mid-end segments), improved vaccination coverage, revival in economic activity coupled with attractive mortgage rates are likely to aid a strong performance by the residential sector,” said Anshuman Magazine, Chairman & CEO – India, South-East Asia, Middle East & Africa, CBRE.

“While we believe that mid-end and affordable categories would continue to drive sales, premium and luxury categories have also witnessed renewed investor interest, fuelled by the anticipated appreciation in capital values and increased activity by HNIs and NRIs,” said Gaurav Kumar and Nikhil Bhatia, Managing Directors for Capital Markets and Residential Business, CBRE India.

The report also highlighted that cities in the western part of the country continued to drive sales as well as unit launches. Pune led housing sales in Q1 2022 with a 27% share, followed by Delhi-NCR (21%), Mumbai (20%) and Bangalore (14%). In terms of unit launches, Pune dominated among cities with a 29% share, followed by Mumbai (22%) and Hyderabad (20%).

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