Indian Housing Market Sees Decline in Sales and New Launches in Q3 2024
Housing sales and new launches in India's top nine cities are expected to decline in Q3 2024, according to real estate analytics firm PropEquity.
Indian Housing MarketPropequityReal Estate AnalyticsHousing SalesNew LaunchesReal EstateSep 20, 2024
New housing launches in the top nine cities are expected to decline by 11% to 93,693 units in Q3 2024, compared to 1,05,655 units in the same period last year. Sales, on the other hand, are expected to decline by 18% to 1,04,393 units in Q3 2024, compared to 1,26,848 units in the same period last year.
The decline in sales is expected to be witnessed in most 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%. Only Delhi NCR and Navi Mumbai are expected to see an increase in sales, with Delhi NCR witnessing a 22% rise and Navi Mumbai seeing a 4% increase.
PropEquity tracks housing supply and absorption data in NCR, Mumbai, Navi Mumbai, Thane, Pune, Bengaluru, Hyderabad, Chennai, and Kolkata. According to the data, the demand for real estate continues to be robust, with the absorption/sales being higher than the new launches.
Frequently Asked Questions
What is the expected decline in housing sales in Q3 2024?
Housing sales are expected to decline by 18% in Q3 2024.
Which cities are expected to see an increase in sales?
Delhi NCR and Navi Mumbai are expected to see an increase in sales.
What is the expected decline in new launches in Q3 2024?
New launches are expected to decline by 11% in Q3 2024.
Which cities are expected to see the highest decline in sales?
Hyderabad is expected to see the highest decline in sales at 42%.
What is the name of the real estate analytics firm that provided the data?
PropEquity
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