Sales for apartments priced above INR 1.5 crore surge by over 270% year-on-year in Q2 2022
Quarterly launches up 6% Q-o-Q, led by Mumbai and Hyderabad
Mumbai, 13th July 2022: Residential sales in Q2 2022 ( April-June) in the INR 1.5 crore plus price tag increased by over 270% Year-on-Year (Y-o-Y). The two larger markets of Delhi NCR and Mumbai saw maximum sales in the quarter in this price bracket. Apartments priced above INR 1.5 crore had a share of 15% in the quarterly sales in Q2 2022. The higher levels of residential sales in the premium category show increased demand for bigger homes and buyer confidence coming back to the market. However, apartments in the price bracket between INR 50 lakh-75 lakh still had a larger share of 28% in the residential sale during the quarter. Bengaluru and Pune recorded the majority of the respective city sales in this price category according to JLL’s Residential Market Update – Q2 2022.
Residential sales gaining momentum in the premium segment
Q2 2021 Sales(units) | Q2 2021 Sales(in %) | Q1 2022 Sales(units) | Q1 2022 Sales(in %) | Q2 2022 Sales(units) | Q2 2022 Sales(in %) | |
---|---|---|---|---|---|---|
less than 50 lakh | 5,347 | 27% | 11,899 | 23% | 13,234 | 25% |
50 lakh - 75 lakh | 6,132 | 31% | 17,290 | 33% | 14,904 | 28% |
75 lakh - 1 crore | 3,172 | 16% | 11,672 | 23% | 9,505 | 18% |
1 crore - 1.5 crore | 2,839 | 14% | 6,187 | 12% | 7,476 | 14% |
Above 1.5 crore | 2,145 | 11% | 4,801 | 9% | 8,113 | 15% |
Total | 19,635 | 100% | 51,849 | 100% | 53,232 | 100% |