Residential real estate is seeing its highest sales in a decade as demand has increased

As 2023 draws to a close, the real estate sector appears to be calming down. India's housing market saw its highest sales in more than a decade this year as demand for spacious and luxurious living picked up post-Covid.

Global real estate firm Cushman & Wakefield said in its 'Outlook 2024' report that new launches in 2023 are likely to reach nearly 300,000 units, an increase of 11 percent, surpassing the previous record set in 2022. Factors such as increased preference for quality developers and lifestyle amenities, and rising incomes have maintained the momentum despite the high numbers

First print: December 29, 2023 | 11:05 PM IST