Indian real estate professionals analyze housing sales data.
Housing sales in India’s top eight cities experienced a 4% decline in the first quarter of 2024, according to a recent report by Knight Frank. The dip is attributed to rising property prices and ongoing market volatility.
Major urban centers such as Mumbai, Delhi-NCR, and Pune saw a decrease in sales. In contrast, Bengaluru, Hyderabad, Chennai, Ahmedabad, and Kolkata bucked the trend, reporting an increase in residential property transactions.
The report highlights that the market is sensitive to pricing pressures, with potential buyers becoming more cautious amid economic uncertainties. The increase in sales in some cities suggests localized demand drivers and market resilience in specific regions.
Knight Frank’s analysis indicates that while overall sales have softened, certain markets continue to demonstrate growth, reflecting diverse regional dynamics within India’s real estate sector.
About the Author
