India's Housing Market Sees 5% Growth in Q2 FY25, Driven by Demand for Premium Homes
Housing sales in India rose 5% annually during July-September to 87,108 units in eight major cities, driven by demand for premium homes, according to Knight Frank India.
Real EstateHousing MarketIndiaKnight Frank IndiaPremium HomesAffordable HousingReal Estate MumbaiOct 03, 2024
According to Knight Frank India's report 'India Real Estate', the growth in housing sales is a positive trend, despite concerns in the affordable housing segment. The report noted that sales in the affordable housing segment have declined due to availability and affordability challenges. The highest sales volumes were recorded in Mumbai at 24,222 units, which is a new high for the market. Sales in Mumbai grew 9% year-on-year. Among the larger markets, sales grew the most in Bengaluru at 11% YoY with 14,604 units.
Housing sales in Pune were up 1% to 13,200 units, while demand in Hyderabad grew 9% to 9,114 units. Ahmedabad saw an 11% growth in sales to 4,578 units, while Kolkata witnessed a 14% growth in sales to 4,309 units. Housing sales in Chennai increased 6% to 4,105 units. However, sales of residential properties in Delhi-NCR declined 7% to 12,976 units during July-September as compared to the year-ago period.
Frequently Asked Questions
What was the growth rate of housing sales in India in Q2 FY25?
5%
What drove the growth in housing sales in India in Q2 FY25?
Demand for premium homes
Which city saw the highest sales volumes in Q2 FY25?
Mumbai
What was the growth rate of sales in the affordable housing segment in Q2 FY25?
Decline due to availability and affordability challenges
Which city saw a decline in sales of residential properties in Q2 FY25?
Delhi-NCR
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