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Housing sales across India's top seven cities saw a 9 per cent annual rise, crossing 1.01 lakh units during the January-March quarter, supported by a low base from last year. However, on a sequential basis, sales declined 7 per cent due to global economic concerns linked to the West Asia conflict. The total value of sales also increased 6 per cent year-on-year to around INR 1.51 lakh crore but dropped compared to the previous quarter. Rising input costs and cautious investor sentiment, especially from overseas buyers, impacted overall momentum during the latter part of the quarter.
Housing sales across the top seven cities recorded a year-on-year increase of 9 per cent during the January-March quarter, reaching 1,01,675 units, according to data released by Anarock. This growth was mainly supported by a lower base in the same period last year, when sales stood at 93,280 units. Advertisement
In value terms, the residential market also showed an upward trend, with total sales rising to approximately INR 1.51 lakh crore compared to INR 1.42 lakh crore in the corresponding period last year, reflecting a 6 per cent increase. The rise indicates sustained demand for housing, particularly in mid and premium segments across major urban markets.
Despite the annual growth, the market witnessed a slowdown on a quarter-on-quarter basis. Housing sales declined 7 per cent in volume and 6 per cent in value compared to the previous quarter, when 1,08,970 units were sold with a total value of around INR 1.60 lakh crore.
Anuj Puri, Chairman of Anarock Group, indicated that while the long-term outlook for India's residential sector remains stable, short-term disruptions were visible during the quarter due to the ongoing conflict in West Asia. He explained that the uncertainty caused by the Iran-related tensions impacted buyer sentiment, especially towards the end of the quarter. He further highlighted that rising oil prices and increased construction costs, particularly in the last month of the quarter, added pressure on both developers and homebuyers.
He also pointed out that a section of international buyers, particularly from the Middle East, who have traditionally invested in Indian real estate, have temporarily held back their investment decisions due to the uncertain global environment. This pause contributed to the overall moderation in sales during the period.
India's housing market has seen strong recovery over the past few years, driven by end-user demand, improved affordability in earlier phases, and renewed interest in homeownership post-pandemic. However, external economic factors such as geopolitical tensions, inflation in raw materials, and interest rate movements continue to influence short-term performance.
Anarock, headquartered in Mumbai, is among the leading real estate consultancy firms in India, offering services across residential and commercial segments, including leasing, land transactions, and fund-raising advisory.
Source PTI
FAQ
Q1: How did housing sales perform in the January-March quarter?
Housing sales across India's top seven cities rose 9 per cent year-on-year to 1,01,675 units, as per data from Anarock, mainly supported by a lower base in the same period last year.
Q2: What was the trend in the value of housing sales?
In value terms, total housing sales increased by 6 per cent annually to around INR 1.51 lakh crore, indicating continued demand, especially in mid and premium housing segments across major cities.
Q3: Did the market see any slowdown during the quarter?
Yes, on a sequential basis, housing sales declined 7 per cent in volume and 6 per cent in value compared to the previous quarter, reflecting a slowdown in momentum during the latter part of the period.
Q4: What factors contributed to the sequential decline in housing sales?
The decline was mainly due to global economic uncertainty linked to the West Asia conflict, rising oil prices, increasing construction costs, and cautious buyer sentiment, particularly towards the end of the quarter.
Q5: How did international buyers impact the housing market?
A section of overseas buyers, especially from the Middle East, temporarily held back investments due to global uncertainty, which contributed to softer demand during the quarter.
Q6: What does this trend indicate about the overall housing market?
While short-term fluctuations are visible, the overall residential market remains stable, supported by end-user demand, urbanisation, and continued interest in homeownership across key cities.
Q7: What role does Anarock play in the real estate sector?
Anarock is a leading real estate consultancy firm in India, offering services across residential and commercial segments, including leasing, land transactions, and advisory for fund-raising and investments.
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