Report: House sales in eight cities up five percent; office space demand also up 18 percent

New Delhi| On the basis of high demand, house sales in eight major cities of the country increased by five percent on an annual basis in July-September. Overall demand for office space also registered an 18 per cent acceleration. Real estate consultant Knight Frank India has made these claims in its report released on Thursday.

According to the report of real estate consultant Knight Frank India, 87,108 houses were sold in eight cities in July-September. In the same period a year before, the figure was 82,612 units. At the same time, the demand for office space increased from 16.1 million square feet to 19 million square feet. This global capacity remained driven by high demand from multinationals seeking to establish centers. Knight Frank India’s report is contrary to the data provided by Anarock and PropEquity. His report talked about a decline in sales in major cities in July-September.

House sales in Delhi-NCR declined by seven per cent to 12,976 units. Apart from this, house sales have increased in all cities. Mumbai sold the highest number of houses at 24,222, a 9 per cent increase. Sales of houses have seen a rise of 11 per cent in Bangalore, one per cent in Pune, 9 per cent in Hyderabad, 11 per cent in Ahmedabad, 14 per cent in Kolkata and 6 per cent in Chennai.