Housing sales up by 49% in July-Sept across 8 major cities: Report

Housing sales have risen 49 per cent year-on-year to 83,220 units in the July-September period across eight major cities on pent up demand, despite rise in interest rates and property prices, according to PropTiger.com.

Sales stood at 55,910 units in the same quarter last year.

The sales have surpassed the pre-pandemic levels of 2019's Q3 (July - September), housing brokerage firm PropTiger.com said on Thursday in its quarterly report Real Insight Residential -- July-September 2022.

"The real estate industry is bouncing back from the pandemic and subsequent disruptions," said Vikas Wadhawan, Group CFO, PropTiger.com, Housing.com and Makaan.com.

Despite the slight increase in overall interest rates, he said the demand for housing has not dipped.

He attributed the rise in demand to renewed thrust towards home ownership.

As per the data, housing sales in Mumbai jumped over two-fold to 28,800 units in the third quarter of this calendar year, from 14,160 units in the corresponding pe