Record sales and new launches are good signs for festive realty

The record increase in housing sales and new launches in the third quarter of 2021 prepare a solid ground for a big boost to residential realty in the festive season ahead.

The top seven cities have seen a record 113 percent increase in housing sales in the third quarter of this year, while the new launches have registered an equally impressive rise of 98 percent. Residential real estate recorded a quarterly surge of 156% with the sale of 62800 units in Q3 this year, against 29520 units sold in Q3 2020.Newly launched units clocked 78% qoq increase with 64560 new units launched in Q3 2021 against 32530 units launched in Q3 2020.Significantly, affordable  and mid-segment housing has been a major growth driver , together carving out a large  share of  65%, with the affordable housing share alone touching  24%. On the supply front too, Hyderabad and MMR had a large   share of 26% and 23% respectively in housing sales.

Says Mr. Pradeep Aggarwal, Founder & chairman, Signature Global and Chairman, Assocham National Council on real estate & Housing , “The run up to festive season is very promising. The strong pick up in housing sales in the third quarter has brightened the chances of real estate growth taking a quantum jump in the new year, what is a very significant trend is the high growth in new launches. Going forward , one should see buyers increasing faith in under construction housing, with affordable and mid- priced housing driving the realty recovery”.

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