Indian Residential Market Sees Robust Growth in Q3 2024
The Indian residential market witnessed a robust quarter in Q3 2024, with sales growing by 5% YoY to 87,108 units. Mumbai led the way with sales of 24,222 units, the highest quarterly sales volume since 2018.
Real EstateResidential MarketIndiaMumbaiBengaluruPuneNcrReal Estate MumbaiOct 03, 2024
The stable interest rates since early 2023 and strong economic outlook have kept homebuyer sentiments buoyant and demand robust in 2024. The residential sales in Bengaluru (14,604 units) and Pune (13,200 units) have surpassed sales of NCR’s residential market in Q3 2024.
The consistent increase in demand has spurred a rapid pace of residential development, resulting in the number of units launched surpassing sales figures for the last eight quarters. A total of 90,479 new residential units were launched in Q3 2024, registering a growth of 6% YoY.
The weighted average prices have appreciated in tandem with demand growth in YoY terms. Residential prices in Bengaluru saw the sharpest rise at 10% YoY as focus increasingly shifted toward the development of premium properties.
Frequently Asked Questions
What was the growth rate of residential sales in Q3 2024?
5% YoY
Which city led the way in residential sales in Q3 2024?
Mumbai
What was the total number of residential units launched in Q3 2024?
90,479
Which city saw the sharpest rise in residential prices in Q3 2024?
Bengaluru
What was the growth rate of residential prices in Bengaluru in Q3 2024?
10% YoY
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