Housing sales rose 31 per cent this year to nearly 4.77 lakh units — an all-time high — across seven major cities, despite price appreciation by an average 15 per cent, and higher mortgage rate, according to Anarock. Real estate consultant Anarock on Thursday released the annual data of seven major primary housing market, showing that housing sales increased to 4,76,530 units this calendar year from 3,64,870 units in 2022. Anarock Chairman Anuj Puri said, ”2023 has been phenomenal for the Indian housing sector, despite global headwinds, rising domestic property prices, and interest rate hikes over the first half this year.” Housing sales in the top 7 cities breached the previous high of 2022, and new launches stayed in step with the current housing demand, he added. Puri said it was widely expected that rising property prices and interest rates, along with global market uncertainties, would impact residential sales, but high demand sustained. As per the data, Mumbai Metropolitan Region (MMR) saw the highest sales among top seven cities, followed by Pune. Sales in MMR rose 40 per cent to 1,53,870 units this year from 1,09,730 units in the previous year.
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