Housing Market Downturn: Sales Drop in Major Indian Cities

Housing sales across nine major Indian cities are projected to decline by 23% annually in the first quarter of 2025 due to high prices and economic concerns. While Delhi-NCR and Bengaluru may see increased sales, other cities like Mumbai, Hyderabad, and Pune are expected to experience significant drops.

Housing sales in India are projected to decline by 23% annually in the first quarter of 2025, as estimated by the real estate data analytics firm, PropEquity. This decline is attributed to high property prices and economic uncertainties.

In its latest report, PropEquity highlights that expected sales across nine major cities will decrease to 1,05,791 units from 1,36,702 units during the same period last year. While Delhi-NCR and Bengaluru are anticipated to witness a rise, other cities face downward trends.

Samir Jasuja, Founder and CEO of PropEquity, remarks that the market is experiencing a correction after years of record supply. New housing supply is predicted to drop by 34% this quarter, reflecting the caution among investors amidst geopolitical and economic concerns.

(With inputs from agencies.)