Housing Sales Dynamics: A Regional Perspective
Housing sales in major Indian cities are projected to see a 21% annual decline during October-December, according to PropEquity. Delhi-NCR is an exception, showing a 25% increase. The decline is attributed to a high base effect, but festive demand offers optimism for a quarterly rise.
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Housing sales across nine major Indian cities are expected to see a 21% annual drop during the October-December quarter, a trend largely attributed to a high base effect, as per a report by real estate data analytics firm PropEquity.
The data suggests that sales will fall to 108,261 units this quarter compared to 137,225 units in the same period last year. However, a quarter-on-quarter increase of 5% is anticipated, fueled by festive demand.
In contrast to the overall downturn, Delhi-NCR is expected to witness a 25% rise in sales. CEOs in the sector attribute this to strong demand in Gurugram, driven by both end-users and investors. Despite the annual decline, the fundamentals of the real estate market remain healthy.
(With inputs from agencies.)
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