Ahmedabad: Driving an increase in demand and consumer sentiment, Ahmedabad recorded a surge in home sales of 37% in the calendar year 2021.
The launch of a new housing unit also passed 99% to touch six years high, according to the latest report, according to the last report released by real estate consultant knight Frank India.
Housing sales in the city rose to 8,911 units from 6,506 units in 2020.
The sale of housing markets remained strong in the second half (July-December) in 2021 with 3,096 units sold in the October-December period only.
However, annual sales are still lower than 16,713 units sold in pre-pandemic time in 2019, added the report.
The new launch of the housing unit surged substantially to 14,648 units at the end of 2021 due to 7,372 units that came to the market in the previous year.
On the basis of half a year, the new launch strengthened 77% to touch 8,422 units launched in July-December 2021 from 4,745 in the appropriate period of 2020.
North and West remains the largest housing market for 38% and 30% of their respective sales.
On the contrary, East accounted for 3% of the second half of the sale of 2021.
“The pandemic permeated the need to increase the family’s main residence,” said Balbir Singh Khalsa, executive director and branch director, Ahmedabad, in Knight Frank India.
He added: “Jobs and studies from home requirements have encouraged home sales in the middle segment housing category.” He said the trend was observed in all locations.
“Ahmedabad is currently the most affordable city between eight under our reviews and housing demand improves,” he said.
“The developments plotted and the gated bungalow community also received assistance with home buyers.” Apart from the increase in consumer sentiment, low home loan interest rates, the need for a larger house in the middle of a pandemic, and a relatively stable price has supported demand, said real estate industry players.