Housing sales up 11% in Jan-Jun to hit 10-yr peak in 8 cities: Knight Frank

Indian real estate market remained buoyant in January-June this year, with housing sales hitting an 11-year high at 1.73 lakh units and office demand at a record 34.7 million square feet across eight major cities, according to Knight Frank.

On an annual basis, housing sales rose 11 per cent to 1,73,241 units while leasing of office space grew 33 per cent to 34.7 million square feet during January-June this year across eight major cities.

Shishir Baijal, Chairman and Managing Director, Knight Frank India, said, "India's real estate market has been buoyant in the last few quarters owing to the strong economic fundamentals and stable socio-political conditions."

As a result, the residential and office segments have recorded decadal-high numbers, he told reporters in a virtual press conference on Thursday.

He noted that premium housing formed 34 per cent of all sales in the first half of 2024.

"Concurrently, India's status as one of the fastest-growing large economies has positively