Office real estate markets see new highs in July-September

July-September witnesses highs in office and housing property markets

The real estate sector's performance has surpassed the pre-pandemic levels by setting a new record during July-September due to a sustained resurgence in demand. 

Top 8 Indian property markets stated that housing sales crossed ten years, with office leasing volume recording a seven-quarter high. 

Across leading cities, residential sales grew 15% from a year ago to 73,691 apartments. In comparison, office leasing saw a 29% jump in transaction volumes at 16.1 million sq ft and has surpassed the pre-pandemic quarterly average of 2019 by 20% and 6%, respectively. 

The demand momentum was commendable in Q3 2022, with sales in all markets, apart from Kolkata, growing yearly. 

Fresh launches also experienced a 15% on-year rise to 69,687 units. All markets witnessed average prices rise from 3% to 10% from a year ago during the quarter.  

This also marks the third quarterly period of consistent on-year price growth across all markets.