India Real estate 2022
2022 saw an increase of 41% YoY in launches in residential market and increase of 34% in sales volume.Unsold inventory stands at 453,477 units largely unchanged.All asset classes have been recovering swiftly but the residential market saw the swiftest and most substanial.The low interests and comparitevely low property prices made the case for home buying even stronger
With the advent of ukraine war,2022 which was expected ot be a recovery year after COVID,has forced governments to take inflationary measures to keep the prices under control.With interest rates going up all around the world, increase in prices of essential items,have sent all governments into a tailspin
Though RBI has increased the policy rates by cumlative 225 bps,this hasn’t affected demand,but led to a 9 year high in terms of sales in 2022.Heightned savings during pandemic realtively low disprution in mid and high income groups has enabled to continued demand.
The office market has seen a rise of 36% YoY in transactions ,and saw a 17% vacancy,which is 14% rise .Though global scenario of work from home has continued even after pandemic,the rise of coworking spaces and other services sector which include e-commerce,education,healthcare,logistics took up the most space of 30% of the total transacted volume,this is followed by IT sector with 22% of transactions.
Rental levels of office spaces stood stable and haven’t seen a rise or fall in prices.