India's Housing Market Sees a Slump: Sales Expected to Fall 2% in Apr-June Quarter
PropEquity predicts a decline in housing sales across top 9 cities, with Mumbai and Delhi NCR being the most affected.
Indian Real EstateHousing SalesPropequityMumbai PropertyDelhi NcrReal Estate MumbaiJun 20, 2024
The report highlights that the Mumbai property market, which has been a major contributor to the country's housing sales, will be the most affected, with sales expected to drop by 3%. This decline can be attributed to the ongoing liquidity crisis, which has made it difficult for developers to complete their projects on time. Additionally, the high property prices in Mumbai have made it difficult for buyers to invest in the market.
Delhi NCR, another significant contributor to the country's housing sales, is expected to witness a 2% decline in sales. The region has been struggling with a high inventory of unsold units, which has resulted in a slowdown in sales. Hyderabad, on the other hand, is expected to witness a slight increase in sales, driven by its growing IT sector and improving infrastructure.
The report also highlights that the Indian real estate market is witnessing a shift towards affordable housing, with buyers increasingly looking for budget-friendly options. This trend is expected to continue in the coming quarters, with developers focusing on launching affordable projects to meet the growing demand.
Information PropEquity is a leading real estate data analytics firm that provides comprehensive data and insights on the Indian real estate market. The firm's reports are widely regarded as authoritative and are used by developers, investors, and policymakers to make informed decisions.
PropEquity is a renowned name in the Indian real estate industry, known for its accurate and insightful reports. With a team of experienced professionals, the firm provides comprehensive data analytics services to stakeholders in the sector.
Frequently Asked Questions
What is the expected decline in housing sales in the April-June quarter?
According to PropEquity, housing sales are expected to fall by 2% in the April-June quarter.
Which city is expected to be the most affected by the slowdown in housing sales?
Mumbai is expected to be the most affected, with sales expected to drop by 3%.
What is driving the demand for affordable housing in India?
The growing demand for affordable housing is driven by the increasing cost of living and the need for budget-friendly options.
What is the current status of the Delhi NCR housing market?
Delhi NCR is struggling with a high inventory of unsold units, which has resulted in a slowdown in sales.
Who is PropEquity and what services do they offer?
PropEquity is a leading real estate data analytics firm that provides comprehensive data and insights on the Indian real estate market.
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