Indian Residential Market Sees Steady Growth in Q2 2024
Positive homebuyer sentiment and steady demand have kept the momentum strong in residential market across major Indian cities. Average housing prices across the top eight Indian cities saw a 12% YoY growth in Q2 2024.
Indian Residential MarketHousing PricesReal EstateColliers IndiaCredaiReal Estate NewsAug 28, 2024
The Indian residential market has seen a steady growth in Q2 2024, with average housing prices across the top eight cities increasing by 12% year-on-year (YoY). This growth can be attributed to positive homebuyer sentiment and steady demand.
According to the Housing Price-Tracker Report Q2 2024 by CREDAI – Colliers - Liases Foras, quarterly price appreciation at the India level has been almost similar at about 3% for the last four quarters. Delhi NCR and Bengaluru saw the highest quarterly price rise at 16% and 8% respectively.
The report also highlights that Pune saw the highest drop in unsold inventory at 13% YoY, followed by Ahmedabad and Chennai. Average housing prices for 3-4BHK configurations have increased up to 30% YoY.
The steady growth in the residential market is a positive sign for the Indian real estate sector, which has been facing challenges in recent years. The growth in housing prices is expected to continue in the coming quarters, driven by steady demand and positive homebuyer sentiment.
Colliers India is a leading real estate consulting firm that provides expert advice to clients on all aspects of real estate. The firm has a team of experienced professionals who have in-depth knowledge of the Indian real estate market.
Badal Yagnik, CEO of Colliers India, has over three decades of experience in the real estate industry. He has represented leading global and local corporates over the years, crafting end-to-end real estate solutions and executing large-scale transactions focused on long-term growth and maximized value.
Vimal Nadar, Senior Director and Head of Research at Colliers India, has over 17 years of experience in research and consulting. He focuses on thought leadership through timely and insightful content to support business growth while elevating the brand value of the company.
Suryaneel has close to a decade of experience in research, consulting, advisory and credit assessment across varied segments including real estate, renewable energy, roads, construction and infrastructure sector. He currently serves as General Manager, Research and is based out of the Bengaluru office of Colliers India.
Shreya Bhusnur is a civil engineer and a recent post-graduate in urban planning with proven academic experience in research, producing data-driven urban planning solutions.
Frequently Asked Questions
What is the growth rate of average housing prices across the top eight Indian cities in Q2 2024?
12% YoY
Which cities saw the highest quarterly price rise in Q2 2024?
Delhi NCR and Bengaluru
What is the drop in unsold inventory in Pune in Q2 2024?
13% YoY
What is the increase in average housing prices for 3-4BHK configurations in Q2 2024?
up to 30% YoY
Who is the CEO of Colliers India?
Badal Yagnik
Related News Articles
Gujarat Government Seeks Public Input on Revised Real Estate Jantri Rates
The Gujarat government is adopting a more transparent approach by soliciting public feedback on revised jantri rates to align with current market conditions, addressing previous discrepancies and fostering optimism in the real estate sector.
Real Estate Sector Sees Encouraging Outlook Despite Legacy Challenges
The Economic Survey highlights India's real estate sector's recovery, driven by urbanization and government schemes, but notes that legacy stalled projects pose a challenge.
ED Raids Former IAS Mohinder Singh's Properties in Rs 9000 Crore NoidA Land Scam
The Enforcement Directorate (ED) has conducted raids on the properties of former IAS officer Mohinder Singh in connection with a Rs 9000 crore land scam in Noida. The operation is part of the ongoing investigation into alleged irregularities in land alloc
Sunteck Realty Experiences 30% Decline in Sales Bookings in Q1 FY25
Sunteck Realty, a leading real estate developer in India, has reported a significant decline in sales bookings for the quarter ended June 2024.
Shaan and his Wife Secure a Luxurious Property in Pune for ₹10 Crore
Shaan and his wife have recently acquired a sprawling bungalow in Prabhachiwadi, Pune, for a staggering ₹10 crore. The property, spanning approximately 0.4 hectares (4787.92 sq yards), boasts a well-maintained built-up area, offering a perfect blend of luxury and comfort.
Unveiling the Future of Real Estate at Cafemutual Ideas Fest 2025
Rohit Rathi, Principal - Real Estate Business at ICICI Prudential MF, shares insights on the robust growth and future prospects of the Indian real estate market at Cafemutual Ideas Fest 2025.