Residential units above ₹1 crore account for nearly 30% market share of sales as compared to 25% in H1 2022, the report said.

It also said that H1 witnessed second-highest half-yearly residential sales volume in 9.5 years.

• The volume of new residential launches grew 8% YoY to 0.17 mn units in H1 2023, said the report. The residential segment registered sales of 0.16 mn units in H1 2023.
• The housing sales in NCR was at a 10-year high level, said Knight Frank India in its report. The housing demand is driven by mid and premium segment while the share of affordable housing in sales has come down.
• The report said that residential sales grew most in Hyderabad at 5% YoY, while Mumbai and Bengaluru saw a fall of 8% and 2% YoY, respectively. Residential prices in Hyderabad grew by 10% YoY, highest among all markets.
• Quarter to sales for Pune was at the lowest across all markets, it added.
• Office space
• The report by Knight Frank India said that demand for office space in H1 2023 rose by 3% YoY. 

The Office space rental increased in the range of 1-10% across top 8 cities. Kolkata office rents grew by 10% YoY, it said. 

The gross office space leasing in the financial capital rose 9% to 3.2 million square feet from 3 million square feet.

Office space transactions of 14.8 mn sq ft in Q2 2023 is the highest quarterly figure since Q1 2021, said the report.

It also said that India-facing (35%) and flex (26%) accounted for the largest share of office space demand. Volume transacted by flex spaces is at a new record high of 6.8 mn sq ft, its share of transactions at a record high of 26%.

Office space vacancy has reduced in most markets, the report added.

Updated: 04 Jul 2023, 11:40 PM IST