Housing sales fell 4 per cent annually in the January-March quarter to 84,827 units across eight major cities, driven by high property prices and market uncertainty stemming from the West Asia conflict, according to Knight Frank.
Housing Sales stood at 88,361 units in the January-March period last year.
Sales of residential properties declined in Mumbai, Delhi-NCR and Pune, but increased in the other five cities — Bengaluru, Hyderabad, Chennai, Ahmedabad and Kolkata.
According to Shishir Baijal, International Partner, Chairman & Managing Director, Knight Frank India, the moderation in residential demand warrants closer attention, particularly as it follows a sustained multi-year upcycle.
“While this phase can be partly attributed to a natural consolidation after strong growth, the continued rise in prices alongside softening volumes indicates growing pressure on affordability and absorption,” he said.
At the same time, Baijal said the volatile geopolitical situation has also …Housing sales fell 4 per cent annually in the January-March quarter to 84,827 units across eight major cities, driven by high property prices and market uncertainty stemming from the West Asia conflict, according to Knight Frank.
Housing Sales stood at 88,361 units in the January-March period last year.
Sales of residential properties declined in Mumbai, Delhi-NCR and Pune, but increased in the other five cities — Bengaluru, Hyderabad, Chennai, Ahmedabad and Kolkata.
According to Shishir Baijal, International Partner, Chairman & Managing Director, Knight Frank India, the moderation in residential demand warrants closer attention, particularly as it follows a sustained multi-year upcycle.
“While this phase can be partly attributed to a natural consolidation after strong growth, the continued rise in prices alongside softening volumes indicates growing pressure on affordability and absorption,” he said.
At the same time, Baijal said the volatile geopolitical situation has also … Latest News [ SOBAN NEWS: International and National ]