Housing Sales fall 18% in Q2 2024, Hyderabad Sees Biggest Dip, Followed by Mumbai
In the April–June quarter of 2024, housing sales in key Indian cities decreased by almost 18% quarter over quarter, according to a research by real estate data analytics company PropEquity.
According to the data, sales of housing units in nine major cities were up to 1,19,901 in Q2 2024, an 18% decrease from the previous quarter’s sales of 1,46,1947 units. Mumbai, Delhi NCR, Bengaluru, Chennai, Hyderabad, Kolkata, Pune, Navi Mumbai, and Thane are among the nine largest cities.
Nevertheless, when compared year over year, housing sales decreased by a mere 2 percent. According to the data, 1,19,901 dwelling units were sold in the April–June quarter of 2024 as opposed to 1,21,856 units in the second quarter of 2023.
Hyderabad experienced the largest QoQ decline in home sales (36%), followed by Mumbai (25%), according to the PropEquity data. In Hyderabad, 23,595 homes were sold in Q1 2024, compared to 15,016 housing units in Q2 2024. Mumbai saw 13,032 apartments sold between April and June of 2024 (so far), compared to 17,307 in the first quarter of 2024.
