The Indian real estate sector continues to scale new highs as sales in the residential market touched an 11-year high during the first half of the year, according to a report by Knight Frank. However, it highlighted that unsold inventory in the overall market has increased by 3%, led by a 27% jump in the premium segment — houses with a ticket size of Rs 1 crore or more.
Approximately 1.73 lakh units were sold during this period, a growth of 11%, with most markets being at multi-year highs, Hyderabad scaled a new all-time high with 18,573 units sold, it said.
Home sales in Mumbai also stood at a 13-year high, rising 16% to 47,259 units. This was fuelled primarily by units priced over Rs 1 crore as sales in the segment more than doubled compared to the same period last year.