Residential

Primary sales plummeted 53.2% to just 672 units.

Demand has been increasing despite rising mortgage rates.

The office sector, meanwhile, is slowly recovering.

It’s the lowest since 277 units were sold back in April 2020.

This is a new record for the rental levels. 

Overall private residential prices grew 3.8% QOQ in Q3 2022.

The primary market sales also declined 8.2%.

New launches declined 13% to 22,368 in Q3.

A majority of the launches were in Gurugram.

Slow down in price growth may be felt by the fourth quarter of the year, OrangeTee said.

This is the highest monthly sales since May 2022.

Transactions for the secondary market reached 2,440 units.

Apart from the affordable housing segment, the aspiring middle class is also driving demand. 

Asking rents rose 14.9% in the year to September.

Rents for hotel-like units rose 5.1% in Q3.

The cumulative apartment supply only grew 0.1% to 219,859 units in Q3.