Housing Market Update: Q2 2024 Sees 8% Decline in Sales Despite Annual Growth
Get the latest insights on the housing market as ANAROCK Research reveals a surprising 8% drop in sales in Q2 2024, despite a 5% annual growth
Housing SalesReal EstateIndian Housing MarketAnarock ResearchQ2 2024Real Estate NewsJul 01, 2024
Despite the decline, the market is expected to bounce back in the coming quarters. The ongoing infrastructure development, coupled with the government's efforts to boost the economy, are expected to drive growth in the housing sector. The demand for housing is still strong, especially in the mid-segment and affordable housing categories.
The top seven cities, including Mumbai, Delhi-NCR, Bengaluru, Pune, Hyderabad, Chennai, and Kolkata, accounted for the majority of the sales. Mumbai saw the highest sales, followed closely by Delhi-NCR. Bengaluru and Pune also witnessed significant sales, driven by the presence of IT and technology companies.
The decline in sales can be attributed to various factors, including the ongoing liquidity crisis, high property prices, and a general slowdown in the economy. However, experts believe that the market will recover soon, driven by the Government's initiatives to boost the economy and the RBI's decision to cut interest rates.
ANAROCK Research, a leading real estate research firm, has been tracking the housing market trends for years. With its expertise and in-depth analysis, the firm provides valuable insights to stakeholders, helping them make informed decisions.
Information
ANAROCK Research is a leading real estate research firm that provides comprehensive data and insights on the Indian housing market. With its expertise and in-depth analysis, the firm helps stakeholders make informed decisions.
ANAROCK Research is a leading real estate research firm that provides comprehensive data and insights on the Indian housing market.
Frequently Asked Questions
What was the decline in housing sales in Q2 2024?
Housing sales dropped by 8% in Q2 2024 compared to the previous quarter.
How many units were sold in Q2 2024?
Around 120,340 units were sold in Q2 2024.
What is the annual growth rate of the housing market?
The annual growth rate of the housing market has seen a 5% increase.
Which cities accounted for the majority of the sales?
The top seven cities, including Mumbai, Delhi-NCR, Bengaluru, Pune, Hyderabad, Chennai, and Kolkata, accounted for the majority of the sales.
What are the factors contributing to the decline in sales?
The ongoing liquidity crisis, high property prices, and a general slowdown in the economy are contributing to the decline in sales.
Related News Articles
The Rise of Biometric Video Injection Attacks: A Growing Threat to KYC Systems
The increasing use of generative AI and open-source tools has made it easier for hackers to create deepfakes and voice clones, posing a significant threat to KYC systems and biometric verification processes.
Vijay Jain, Managing Director of Star Estate, Wins Prestigious Times Power Icon 2024 Award
Star Estate's Managing Director, Vijay Jain, receives the prestigious Times Power Icon 2024 Award for his outstanding contributions to the real estate sector.
Construction of 12 River Bridges Completed for Gujarat's Bullet Train Corridor
Twelve out of the 20 planned river bridges for the ambitious 508-km high-speed rail project in Gujarat have been completed, marking significant progress in the project's timeline. The bullet train corridor, set to connect Ahmedabad and Mumbai, is a major
Real Estate Investments in India Surge to $8.9 Billion in 2024: JLL Report
The Indian real estate market has witnessed a historic high with investments reaching $8.9 billion in 2024, according to a report by JLL. The market is expected to continue its growth trajectory, driven by favorable government policies and increasing urba
Raymond Ltd's Q3 Profit Surges 75% to Rs 72 Cr - A Positive Turnaround
Mumbai-based Raymond Ltd, a leading player in the real estate and engineering sectors, has reported a substantial profit surge of 75% to Rs 72 crore in the third quarter of the fiscal year. This significant growth is a testament to the company’s strategic
CERA Sanitaryware Ltd. Launches Premium Company-Owned Display Studio in Pune
CERA Sanitaryware Ltd., a leading name in the sanitaryware industry, has opened a state-of-the-art company-owned display studio in Pune. The event was attended by industry leaders and VIP guests, marking a significant milestone in CERA's expansion strateg