Indian real estate witnessed steady demand during January-March with housing sales rising by 1 per cent and gross office space leasing growing by 5 per cent year-on-year across eight major cities, Knight Frank India said on Monday.
Housing prices rose in the range of 1-7 per cent annually in the first quarter of this calendar year, while office rentals grew 2-9 per cent, according to real estate consultant Knight Frank ‘India Real Estate’ report released on Monday.
As per the data, housing sales stood at 79,126 units across eight major cities during January-March 2023, up by marginal 1 per cent from the year-ago period.
The gross office leasing rose 5 per cent to 11.3 million square feet in January-March, from 10.8 million square feet in the corresponding period of the previous year.
“The residential market remained resilient in the face of rising interest rates and prices as sales level sustained in the first quarter of the year,” Knight Frank India Chairman & Managing Director ..
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