India Real Estate Market: In Delhi-NCR, the sale of houses has reached two and a half times on a yearly basis from January to June-2022. This time there has been an increase of 7% in housing prices. According to the report of property consultant Knight Frank India, this sale took place between January-June 2022.
condition improved after covid-19
According to the Indian Real Estate report, the sale of residential properties in Delhi-NCR has increased two and a half times to 29,101 units in the first half of January-June 2022 of this year. In the same period of 2021, the sale of residential units stood at 11,474 units.
new home sales increased
Home sales did not take place in the first half of 2021 due to the second wave of the Kovid-19 pandemic. After this, the offer of new houses increased manifold to 28,726 units from 2,943 units in January-June 2021.
7% increase in house prices
According to the report, house prices increased by 7% on a year-on-year basis to Rs 4,437 per sq ft during this period. On the other hand, unsold residential properties declined by 6% to 95,811 units. As the situation improved to 2022, a total of 29,101 units of residential properties were sold in Delhi-NCR in the first half, which is the highest sales figure since the second half of 2013.
Increased demand for office space
The report said that due to the increase in cost, many real estate companies have increased the prices of houses during the last few quarters. Leased office space demand grew 69% to 4.1 million sq ft in the first half, from 2.4 million sq ft in the same period last year.