Slowdown Hits Real Estate: Major Indian Cities Report Sharp Drop in Home Sales
Housing sales are expected to dip by 19 per cent to 94,864 units in the second quarter of this calendar year from 1,16,432 units in the year-ago period, the report by PropEquity revealed.
Housing sales are estimated to fall 19 per cent in April-June across nine major cities to 94,864 units on lower launches and subdued demand, according to PropEquity.
In its report released on Sunday, real estate data analytics firm PropEquity mentioned that housing sales are expected to dip by 19 per cent to 94,864 units in the second quarter of this calendar year from 1,16,432 units in the year-ago period.
Samir Jasuja, Founder and CEO of PropEquity said, “This is for the first time since Q3, 2021 (July-September) that housing sales have fallen below 1 lakh unit mark. Supply, too, has stayed below 1 lakh unit mark for the fourth consecutive quarter." New supply is estimated to fall 30 per cent to 82,027 units from 1,17,208 units during the period under review.
As per the data, housing sales in Bengaluru are estimated to fall 6 per cent to 14,676 units in April-June this year from 15,582 units in the year-ago period.
Sales of residential properties in Hyderabad are likely to fall 20 per cent to 11,815 units from 14,704 units.
Housing sales in Mumbai might fall 34 per cent to 8006 units from 12,114 units.
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Navi Mumbai is likely to witness 17 per cent decline in sales to 6,833 units from 8,224 units.
Housing sales in Thane are expected to decline 34 per cent to 14,832 units from 22,512 units.
Pune is likely to witness a 27 per cent fall in sales to 17,196 units from 23,429 units.
Housing sales in Kolkata are likely to decrease by 8 per cent to 4,449 units from 4,826 units.
However, Delhi-NCR and Chennai residential markets are likely to report higher sales. Housing sales in Delhi-NCR could rise 16 per cent to 11,703 units from 10,114 units. Sales of residential properties in Chennai are expected to rise 9 per cent to 5,354 units during April-June 2025 from 4,927 units in the year-ago period. P.E. Analytics, a NSE-listed company, owns and operates PropEquity platform.
PropEquity has more than 17 years of catalogued data. It tracks more than 40 cities of India.
(This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)
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