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Mumbai: Despite spiralling home loan rates in recent past and global economic headwinds including layoffs by several large and small corporates, the bull run in the Indian housing market continued in the second quarter of the year.

Quarterly housing sales are at an all-time high with approx. 1,15,100 units sold in Q2 2023 across the top 7 cities, reveals latest ANAROCK Research data. This is a 36% yearly rise as against approx. 84,940 units sold back in Q2 2022.

MMR and Pune accounted for over 51% of the total sales in the top 7 cities, with Pune witnessing the highest 65% yearly jump. As many as 58,770 units were sold altogether in these cities.

Meanwhile, new launches across the top 7 cities once again breached the one lakh mark and witnessed 25% yearly rise – from 82,150 units in Q2 2022 to over 1,02,610 units in Q2 2023. Interestingly, MMR and Pune again saw the maximum new supply, accounting for 63% of the total new launches across the top 7 cities. Individually, the two cities saw 31% and 29% yearly increase in their new supply, respectively.

Anuj Puri, Chairman – ANAROCK Group, says ““The housing market is yet to feel the impact of the home loan rate hike early this year, and of the global economic headwinds. It continues to be on a roll with the momentum remaining strong even in the second quarter of 2023. Housing sales in the top 7 cities broke the previous high record of Q1 2023 and stood more than 1.15 lakh units in Q2 2023. Pune and MMR were the only two cities to see quarterly rise in housing sales – of 4% and 10% respectively while other cities saw some dip. But on yearly basis, most top 7 cities saw significant jump in housing sales.”