Housing Sales to Decline by 18% in Q3 2024 Across Nine Cities: PropEquity
New housing launches and sales in the July-September quarter of 2024 are expected to decline by 11% and 18% respectively across the top nine cities, according to data shared by real estate analytics firm PropEquity.
Real EstateHousing SalesPropequityIndian Real Estate MarketNcrMumbaiNavi MumbaiThanePuneBengaluruHyderabadChennaiKolkataReal Estate PuneSep 20, 2024
The NSE-listed firm said that new launches in the July-September quarter of CY 2024 fell to 93,693 units from 1,05,655 units in the same period last year while sales fell to 1,04,393 units in Q3 CY2024 from 1,26,848 units in the same period last year.
Housing sales may decline by 18% during the July-September quarter across nine major cities to 1,04,393 units. Sales stood at 1,26,848 units in the same period last year. As per the data, the housing sales are estimated to increase only in Delhi NCR (22%) and Navi Mumbai (4%) during July-September period of this year.
Sales are likely to decline in other seven cities with Hyderabad recording the highest fall at 42%, followed by Bengaluru at 26%, Kolkata at 23%, Pune at 19%, Chennai at 18%, Mumbai at 17% and Thane at 10%.
Frequently Asked Questions
What is the expected decline in housing sales in Q3 2024?
18% across nine major cities
Which cities are expected to see an increase in housing sales?
Delhi NCR (22%) and Navi Mumbai (4%)
What is the reason for the decline in housing sales in Hyderabad and Navi Mumbai?
Majority of new real estate launches are in plots rather than apartments
Which cities saw a rise in new supply in Q3 2024?
NCR, Mumbai and Thane
What is the name of the real estate analytics firm that provided the data?
PropEquity
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