Pent up demand from the pandemic has accelerated housing sales in India by 34 per cent, as they have hit the highest levels in almost a decade. There was also a 36 per cent rise in offices being leased across eight cities in India last year.
The report by Knight Frank India highlighted how the housing demand surged despite rising real estate rates as well as higher interest, which made home loans costlier. Residential sales remained highest in Mumbai with 85,169 units sold, while Delhi-NCR and Bengaluru followed with 58,460 units and 53,363 units respectively.
Pune witnessed a 17 per cent rise in sales, while Hyderabad, Chennai and Ahmedabad clocked a rise of 28 per cent, 19 per cent, and 58 per cent respectively.
The only city where housing sales went down was Kolkata, with a 10 per cent decline. Bengaluru emerged as the city with the highest demand for offices on lease, despite recent infrastructure challenges.
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