HOUSING MARKET TO CROSS PRE-NOTE BAN LEVEL IN 2023: REPORT

After reaching the nadir in 2020, the country’s housing market is expected to overtake the 2015 levels in terms of sales by 2023. A latest report from Anarock Research shows new launches are lower than demand in the top 7 cities. Starting 2021, the market is set to witness a healthy double-digit growth rate over the next three years. In 2021, new launches are estimated to grow 35%, and sales 30%. The largest market, Mumbai, is likely to comprise a 28% share of sales and nearly 30% of new launches, followed by Bengaluru that is set to overtake Delhi-ncr. Bengaluru is estimated to have a 20% share of homes sold and a 17% share of units launched.