Housing Sales Surge to 11-Year High

The housing property market across India is setting new benchmarks with robust growth in sales volumes supported by stable economic conditions and continued confidence in the market’s resilience despite higher mortgage rates.

Top 8 cities including Mumbai, Delhi-NCR, Bengaluru, Pune, and Hyderabad are leading this uptrend, driving substantial growth, and have helped the country’s residential real estate market scale an 11-Year high in sales volumes in the first half of the year.

Total sales across top 8 Indian cities have witnessed 11% on-year growth at a total 173,241 apartments, showed data from Knight Frank India, Development activity has scaled up to tap into the rich vein of demand that the residential market in the midst of.

The 183, 401 units launched in the first half of 2024 represent a 10-year high in term of units launched in a half-yearly period and are well attuned to the changing preferences of the homebuyer that are now significantly leaning to ward experiential and squarely aimed at an upgrade lifestlyle.

This growth is firmly anchored by the premium category which saw a significant rise moving from 15% in the H1 2028 to 34% in 2024… While the rise in the premium sector is appreciated, the corresponding decline in the lower price category should be addressed to ensure that there is more inclusive growth of the market.

It is expected the sales momentum to remain robust for the rest of the year as the economic conditions will remain stable with the Indian economy continuing to grow.