Apartment sale at 15-yr high in THESE 7 cities in Jan-Jun: JLL India

The sales data included only apartments and excludes sales of rowhouses, villas, and plots, the JLL India said.

The JLL said the overall, sales of apartments increased 21% in January-June across seven major cities to 1,26,500 units as against 1,04,926 units in the year-ago period. The overall January-June sales data is highest in 15 years in the first half of a year, the real estate consultant stressed.

\The JLL said sales of apartments, priced above ₹1.5 crore, went up 21% to 26,011 units during January-June this year from 18,993 units in the year-ago period. The share of luxury flats in overall sales increased to 21% from 18% last year.

₹1-1.5 crore category registered the highest sales record of up 67% during January-June this year. The category registered a sale of 24,121 units from 14,484 during the period, increasing the share in total sales to 19% from 14%.

According to the JLL data, sales of flats, costing ₹75 lakh-1crore, rose 25% to 21,848 units from 17,529 units. In the total sales, share of flats in this price bracket remained flat at 17%.

In the ₹50-75 lakh price category, sales of apartments rose 4% to 30,125 units from 28,933 units. The share of mid-segment in total sales dropped to 24% from 28%.

In the ₹50-75 lakh price category, sales of apartments rose 4% to 30,125 units from 28,933 units. The share of mid-segment in total sales dropped to 24% from 28%, the JLL data said

As per the JLL data the share of affordable homes in total sales dropped to 19% from 24%.

Sales of apartments, priced less than ₹50 lakh, fell 2% to 24,482 units in January-June from 24,987 units a year ago. 

“The government’s strong push, coupled with the RBI’s decision to pause the repo rate in the last two instances, along with moderate inflation, have played a pivotal role in revitalizing the residential market. The demand for homes is projected to remain growth-oriented in the medium term as well,” News agency PTI reported quoting Siva Krishnan, Senior Managing Director and Head – Residential, India at JLL

Krishnan expected strong sales in the second half of this year, driven by festive demand.

“The top residential markets have consistently performed well, with sales witnessing an upward trend in the past few quarters,” PTI reported quoting Mohit Jain, Managing Director  of reality firm Krisumi Corporation, which is into luxury projects in Gurugram.

The managing director of Krisumi Corporation attributed the growth to robust demand across all price brackets, particularly in the mid and premium housing segments, driven by strong desire to own properties and the stability in home loan interest rates.

Updated: 10 Jul 2023, 06:49 PM IST