Hyderabad accounts for maximum absorption share of newly launched homes: Anarock
Hyderabad: Hyderabad accounted for the maximum absorption share of new units among the top seven cities of India in 2021. Of the total 25,410 units sold in the city in 2021, nearly 55 per cent were newly launched, which shows the revival of investor interest.
The 2021 absorption share of Hyderabad is significantly up from 28 per cent of approximately 16,590 units in 2019, according to Anarock research.
In Bengaluru, of 33,080 units sold in 2021, the sale share of newly launched units was 35 per cent- up from 27 per cent of 50,450 units in 2019.
Mumbai Metropolitan Region (MMR) saw the lowest absorption of newly launched homes- of 76,400 units sold in 2021, just 26 per cent were launched during the year. The remaining were old projects launched before 2021. NCR saw its absorption share of newly launched units at 30 per cent.
Anuj Puri, chairman, Anarock Group said, “End-users with a preference for ready-to-move-in or almost-complete homes continue to rule the roost. However, the demand scale is shifting gradually. Among other things, the increased sales share of newly launched homes heralds the revival of investor interest. This is significant – over the last 3-4 years, investors had more or less exited the residential real estate stage and were focusing on other asset classes.”
Pan-India, Anarock research data shows that out of the total 2.37 lakh homes sold in 2021 across the top seven cities, over 34 per cent were newly launched units.
In 2019, the sales share of newly launched homes was lower. Of about 2.61 lakh homes sold in 2019, newly launched homes accounted for about 26 per cent. In 2020, of 1.38 lakh units sold in the top seven cities, 28 per cent were launched during the year.
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