City sees 54% rise in sale of houses in Q3 2022, compared to Q3 2021

kolkata: Kolkata accounted for a 6 per cent share of the total housing sale in Q3 2022 across the top 7 cities.

Kolkata recorded sale of nearly 5,000 units in the current quarter, as against 4,800 units in the previous quarter. The city saw a rise in home sale by 3 per cent QoQ (quarter on quarter) and a rise of 54 per cent compared to the same quarter the previous year.

In terms of zonal home sales in the city, East, North and South Kolkata led the majority of the home sale in the current quarter, selling 43 per cent, 30 per cent and 23 per cent of the residential units, respectively.

Amongst all the zones, North Kolkata is the only zone to have a 4 per cent reduction in sale when compared to Q2 2022.

The housing sale share of West Kolkata remained constant compared to Q2 2022, at 3 per cent.

Kolkata's new residential launches are up 2.2 times against Q2 2022; the highest QoQ growth amongst the

top seven cities.

In Q3 2022, Kolkata witnessed a new supply of nearly 4,500 residential units, accounting for 5 per cent of the total new supply across the top 7 cities. In comparison to Q2 2022, a significant rise of 124 per cent is noted, while on an annual basis, the new launch numbers rose by 13 per cent.

In contrast to the previous quarter, South Kolkata witnessed approximately 42 per cent of new launches to become the most active market in the city in Q3 2022.

On the budget segmentation front, the affordable housing segment stood as the front runner with the highest number of new launches contributing 51 per cent, followed by 27 per cent in mid-end segment and 12 per cent in high-end segment.

Ultra-luxury ticket-size units together launched 10 per cent of the city's new supply.