Additionally, sales levels were not materially dented by concerns over growing inflation, increasing interest costs, or slowing economic growth, the report says.
It also shows a significant uptick in the demand for office properties. India recorded a 36 per cent year-on-year increase in office leasing activities in 2022, with a gross total of 51.6 million sq. ft (516 lakh sq. ft) being leased out in the top office markets.
This was second only to the record levels seen in 2019, the report added.
“Despite global headwinds weighing down on the domestic economy, India has continued to be the fastest-growing large economy globally. This is reflected in the robust office and residential demand, and even complemented by relatively strong price growth seen during 2022,” Shishir Baijal, chairman and managing director of Knight Frank India, said in the report.
techyupdates.tech.blog 