{"id":26268,"date":"2025-03-24T11:16:00","date_gmt":"2025-03-24T06:16:00","guid":{"rendered":"https:\/\/bigbreakingwire.in\/?p=26268"},"modified":"2025-03-24T11:54:24","modified_gmt":"2025-03-24T06:24:24","slug":"housing-sales-drop-23-percent-india-top-cities","status":"publish","type":"post","link":"https:\/\/bigbreakingwire.in\/housing-sales-drop-23-percent-india-top-cities\/","title":{"rendered":"Housing Sales Decline in India’s Top Cities Amid High Prices and Slow Economy"},"content":{"rendered":"
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Residential Market Faces a 23% Drop in Sales<\/strong><\/p>\n\n\n\n

India\u2019s housing market has hit a slowdown, with home sales in the country\u2019s top nine cities declining by 23% in the first quarter of 2025 compared to the same period last year. A report by real estate data firm PropEquity attributes this decline to rising property prices and an overall economic slowdown, which have made potential buyers more cautious.<\/p>\n\n\n\n

New Project Launches Decline by 34%<\/strong><\/p>\n\n\n\n

The sluggish demand has also impacted new project launches, which have seen a 34% drop across the top nine cities. The housing market is undergoing a correction after experiencing record supply levels from 2021 to 2023, said Samir Jasuja, founder of PropEquity. Additionally, global trade uncertainties have made investors hesitant, further affecting market sentiment.<\/p>\n\n\n\n

Housing Sales Decline in Most Indian Cities, But Bengaluru and Delhi-NCR Show Growth<\/strong><\/p>\n\n\n\n

Housing sales in India\u2019s top nine cities dropped significantly in the first quarter of 2025, with only 1,05,791 units sold. This marks a sharp fall from the 1,36,702 units recorded during the same period in 2024. Most cities saw lower sales and fewer new projects, except for Bengaluru and Delhi-NCR, which performed better.

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Bengaluru led the market with a 10% rise in home sales, reaching 18,508 units in Q1 2025, compared to 16,768 units a year ago. Its share of total sales grew from 12% in Q1 2024 to 17% in Q1 2025. Delhi-NCR also followed a similar trend, selling 11,221 units, a 10% increase from last year.<\/p>\n\n\n\n

On the other hand, new housing projects declined sharply in several cities. Kolkata saw the biggest drop in new supply, falling by 62%. Mumbai and Thane recorded a 50% decline, Pune 48%, and Chennai 46%. Hyderabad witnessed a 38% decrease in fresh launches, while Navi Mumbai and Delhi-NCR saw smaller reductions of 24% and 14%, respectively.<\/p>\n\n\n\n

Bengaluru & NCR Buck the Trend<\/strong><\/p>\n\n\n\n

Despite the overall decline, Bengaluru and the National Capital Region (NCR) stood out with a 10% rise in sales, indicating strong demand in these regions. However, most other cities struggled to maintain momentum.<\/p>\n\n\n\n

Hyderabad, Pune & Thane See Major Declines<\/strong><\/p>\n\n\n\n

Traditionally high-supply markets like Hyderabad, Pune, and Thane have witnessed a sharp decline. These three cities, which contributed 38% of new project launches last year, saw their share drop to 29% this quarter.<\/p>\n\n\n\n

City-Wise Impact on Housing Sales<\/strong><\/p>\n\n\n\n

Hyderabad faced the steepest drop, with sales nearly halving in the first quarter.

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Mumbai and Pune saw sales fall by about one-third compared to last year.<\/p>\n\n\n\n

Commercial Real Estate Remains Strong<\/strong><\/p>\n\n\n\n

While the residential sector is cooling down, the commercial real estate market continues to thrive. Companies leased a record 77.2 million square feet of office space across seven major Indian cities in 2024, reflecting strong business expansion and demand for workspaces.<\/p>\n\n\n\n

Conclusion<\/strong><\/p>\n\n\n\n

The Indian housing market is undergoing a correction due to high prices, economic uncertainty, and cautious investor sentiment. While cities like Bengaluru and NCR remain resilient, others like Hyderabad, Mumbai, and Pune are seeing a significant slowdown. On the other hand, the commercial real estate sector remains strong, signaling that businesses are still confident in India’s long-term growth prospects.

Source: PropEquity Report<\/em><\/strong><\/p>\n\n\n\n

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