Hold onto your hard hats because the Indian real estate market is rocking and rolling into Q1 2023 with jaw-dropping sales and a dazzling premium segment. It's time to dig into the fascinating insights and trends that have set the stage on fire. Buckle up and join us on this thrilling ride as we explore record-breaking sales, the rise of luxury living, and a burst of new projects that'll leave you in awe!
In an exhilarating performance, the residential market has smashed all previous records, wowing audiences with the highest quarterly sales in 15 years! We're talking about over 62,000 units sold in Q1 2023 alone, a staggering 15% increase compared to the previous quarter. Who says the real estate market can't deliver box-office hits? It's a standing ovation for enhanced consumer confidence, even in the face of global headwinds!
Step into the glamorous world of the premium segment, where apartments priced above INR 1.5 crore have taken center stage! These showstoppers have captured a whopping 22% share of the spotlight in the overall sales. The demand for bigger homes with top-notch amenities and support infrastructure is soaring. Don't worry, though—there's still plenty of love for the INR 50 lakh—75 lakh category, reigning supreme with a quarter share of the Q1 2023 sales.
Break out the confetti and champagne because Q1 2023 has witnessed the grandest show of new residential project launches in over a decade! With a spectacular performance, developers have stolen the limelight by introducing a mind-blowing 75,000 units across the top seven cities of India. That's right, it's raining new projects! Fueled by robust sales and an economy that's raring to go, this show is far from over. And guess what? Over 27% of these showstoppers fall in the coveted above INR1.5 crore price bracket. Now that's what we call aiming for the stars!
The premium segment has stolen hearts and wallets with a dazzling display of new launches. From being a mere supporting act in Q1 2022, it has stepped into the spotlight, strutting with over 20,000units in Q1 2023. Major markets like Delhi NCR and Mumbai have taken the lead, mesmerizing buyers with luxurious apartments priced above INR 1.5 crore. Developers are unleashing the magic of bigger homes and better lifestyles, all to satisfy the growing demand for a taste of the high life!
Lights, cameras, and real estate action—Q1 2023 has been a blockbuster for the Indian real estate market! With record-breaking sales, a flourishing premium segment, and an avalanche of new projects, the stage is set for an unforgettable show. It's a thrilling time for stakeholders in the industry, so don't miss your chance to be part of this exhilarating journey in the world of Indian real estate!
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