Page 2 - Housing Sales

Housing sales in top 7 cities gain momentum, likely to breach 2014 peak

Going by the momentum of housing sales this year, 2022 is likely to breach the previous peak of 2014 with an all-time high sales across the top seven cities

Upbeat housing demand to lift realty stocks despite rate hikes: Analysts

While rising interest rates are expected to hamper affordability among buyers, analysts expect the underlying need for homeownership to remain strong, which would buoy housing sales going ahead

Bengaluru fourth most expensive real estate market in India: Knight Frank

Bengaluru's affordable housing market has become more costly due to the 50 bps hike in the repo rate by the RBI

Macrotech Developers' sales bookings up 57% to Rs 3,148 crore in Q2

Realty firm Macrotech on Thursday reported a 57 per cent increase in its sales bookings during the July-September quarter to Rs 3,148 crore on strong housing demand. Macrotech Developers, which sells its properties under the Lodha brand, is one of the leading real estate firms in the country. Its sales bookings stood at Rs 2,003 crore in the year-ago period. "Lodha achieved its best ever Q2 pre-sales performance of Rs 3,148 crore, showing a growth of 57 per cent on a YoY (year-on-year) basis," the company said in a regulatory filing. The company's sales bookings have reached Rs 6,004 crore, which is 52 per cent of its guidance of Rs 11,500 crore for the full 2022-23 fiscal. On operational performance, Abhishek Lodha, MD and CEO of Macrotech Developers said, "Despite this being the seasonally weakest quarter, it is the 2nd time in the last 3 quarters when we have surpassed Rs 3,000 crore of pre-sales, suggesting a strong underlying housing demand, the attraction of Lodha Brand amon

Housing sales up 87% in Jan-Sep in 7 cities; breach CY19 figure: Anarock

Housing sales rose 87 per cent in January-September across seven cities to 2,72,709 units and breached the transactions clocked in entire 2019 pre-COVID year on strong demand, according to Anarock. Sales stood at 1,45,651 units in the January-September period of 2021. Property consultant Anarock, which is one of the leading housing brokerage firms, tracks primary sales of seven major cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Bengaluru, Hyderabad and Pune. As per the data, housing sales in these seven cities increased to 2,72,709 units during January-September this year from 1,45,651 units in the corresponding period of the previous year. The January-September figure of this calendar year is higher than the 2,61,358 units sold during entire 2019. Sales plunged to 1,38,344 units in 2020 due to the adverse impact of the COVID-19 induced lockdowns. India's primary housing market revived last year on pent up demand coupled with incentives offered by some

Housing sales witness 41% rise YoY in July-September: Anarock report

MMR and Hyderabad witnessed the highest new launches in Q3 2022, with approx. 36,000 units and 15,530 units, respectively

Housing sales up 41% in July-Sept period across 7 cities: Anarock Report

Sales of residential properties increased 41 per cent to 88,234 units in July-September this year across seven major cities, property consultant Anarock said on Friday. The housing brokerage firm released its quarterly data of seven major cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Bengaluru, Hyderabad and Pune. As per the data, housing sales rose 41 per cent to 88,234 units in the third quarter (July-September) of 2022, from 62,799 units in the year-ago period. New launches increased 45 per cent to 93,490 units from 64,560 units in these seven cities. "The momentum of both housing sales and new launches stayed strong in the top 7 cities in Q3 2022 despite major headwinds. The appetite for homeownership has remained undeterred, with maximum sales being driven by end-users," Anarock Chairman Anuj Puri said. He noted that there has been an increase in new supply by the leading and listed developers, who also reported robust housing sales. Puri felt that

Housing sales up by 49% in July-Sept across 8 cities: PropTiger Report

Housing sales have risen 49 per cent year-on-year to 83,220 units in the July-September period across eight major cities on pent up demand, despite rise in interest rates and property prices, according to PropTiger.com. Sales stood at 55,910 units in the same quarter last year. The sales have surpassed the pre-pandemic levels of 2019's Q3 (July - September), housing brokerage firm PropTiger.com said on Thursday in its quarterly report Real Insight Residential -- July-September 2022. "The real estate industry is bouncing back from the pandemic and subsequent disruptions," said Vikas Wadhawan, Group CFO, PropTiger.com, Housing.com and Makaan.com. Despite the slight increase in overall interest rates, he said the demand for housing has not dipped. He attributed the rise in demand to renewed thrust towards home ownership. As per the data, housing sales in Mumbai jumped over two-fold to 28,800 units in the third quarter of this calendar year, from 14,160 units in the corresponding pe

Luxury housing sales double in H1 2022, Mumbai region takes top spot

14% of 184,000 units sold in the top seven Indian cities in the period were luxury homes

2022 Housing sales to breach pre-Covid levels despite rate hikes: Industry

India's residential market is expected to sustain demand momentum despite rise in mortgage and property rates as sales this year across the top 7 cities are likely to breach pre-pandemic level of 2.62 lakh units, industry players said. After braving four back-to-back disruptions in form of demonetisation, RERA, GST and COVID-19 in the last 6 years, industry experts feel the housing market is going through a lot of structural changes and is now at the start of a long-term upcycle. Homebuyers body FPCE gives credit to the Real Estate Regulatory Authority (RERA) under the Real Estate (Regulation & Development) Act, 2016 for this improved buying sentiment. All major listed real estate developers posted record sales bookings in the last fiscal and have given guidance that their sales numbers in FY'23 will be even better. However, if the overall market is taken into account and not just listed entities, the RBI's decision to hike interest rates by a cumulative 140 basis points and ...

DLF cuts net debt by 16% sequentially to Rs 2,259 cr in Q1 on strong sales

It asserted that the completed inventory and receivables from customers against sold units would be sufficient to discharge all current liabilities

China's economy strengthens in July despite housing crisis, covid woes

The center of China's covid outbreak has shifted over the last month, with cases low in Shanghai and surrounding provinces but rising elsewhere, with some new lockdowns and restrictions being imposed

Most Delhi-NCR builders see no rate hike-impact on housing demand: Survey

Around 68 per cent of respondents said there has been no impact on demand from recent increase in home loan lending rates, while 27 per cent suggested marginal decrease in sales/enquiry

Housing sales in Jan-Jun at 9-year high in top 8 cities: Knight Frank

Delhi-NCR saw more than two-fold jump in sales to 29,101 units from 11,474 units, while sales of residential properties in Bengaluru grew by 80 per cent to 26,677 units from 14,812 units

Delhi-NCR sees housing sales fall 19%, new supply down 56% in Apr-Jun

Housing sales in Delhi-NCR fell 19 per cent to 15,340 units in April-June compared to the previous quarter on lower demand due to rise in property prices as well as mortgage rates, data showed

Property registrations in Mumbai up 21 per cent YoY, the best in a decade

Property registrations in Mumbai increased by 21 per cent YoY in June to 9,525 units, a report by Knight Frank said

Housing sales fall 15% in Apr-Jun in top 7 cities from previous quarter

As per the data, housing sales in Mumbai Metropolitan Region (MMR) fell 11 per cent to 25,785 units in April-June 2022 from 29,130 units in the previous quarter

Life may get tougher for mid, small size HFCs amid rising rates: Analysts

Analysts warn that housing finance companies (HFCs), which cater largely to affordable housing segment, may see some margin erosion

Rising mortgage rates won't hit housing sales in India, say experts

Higher mortgage rates will have a lower impact on the Indian housing market than in the US market, said Kotak Institutional Equities (KIE)

Housing sales may dip on likely rise in home loan interest rate: Experts

The RBI's decision to hike the benchmark interest rate will make home loans costlier and affect housing sales, especially in affordable and mid-income segments, according to property consultants.