Indian Housing Sales Jump 19% in Q2 Amid Global Uncertainties

Housing sales across India's top nine cities rose 19 per cent year-on-year to 1,12,458 units during the April-June quarter despite global economic uncertainties, while fresh residential supply increased 43 per cent, according to a report by PropEquity.

According to PropEquity data, housing sales stood at 94,864 units in the corresponding quarter last year.

The report covers Mumbai, Navi Mumbai, Thane, Delhi-NCR, Bengaluru, Hyderabad, Chennai, Pune and Kolkata.

New residential supply also recorded strong growth, rising 43 per cent annually to 1,17,609 units during the quarter.

Commenting on the report, PropEquity Founder and CEO Samir Jasuja told PTI, "The Indian housing market has remained resilient despite the geopolitical uncertainties in the Middle East. Southern markets continue to lead growth, while Mumbai and Navi Mumbai have also seen strong demand. Although some regions such as Thane and Delhi-NCR have witnessed relatively softer activity, overall market sentiment remains positive. "

According to the report, Bengaluru posted the strongest growth, with housing sales rising to 21,516 units from 14,676 units a year earlier.

Sales also increased in Chennai to 6,323 units from 5,354 units, Hyderabad to 14,410 units from 11,815 units, Mumbai to 10,561 units from 8,006 units, Navi Mumbai to 11,029 units from 6,833 units, Thane to 16,386 units from 14,832 units, and Pune to 18,737 units from 17,196 units.

However, according to PropEquity, housing sales declined in Delhi-NCR to 10,082 units from 11,703 units, while Kolkata also recorded a fall to 3,414 units from 4,449 units in the year-ago period.

Reacting to the findings, Property First Realty Founder and CEO Bhavesh Kothari attributed Bengaluru's strong performance to infrastructure expansion and employment growth.

He said the demand remains strong from end-users and investors across all price points.

M3M India President Robin Mangla told PTI, "19 per cent surge in housing sales is a strong indicator of sustained consumer confidence and the underlying strength of the residential real estate sector."

Echoing a similar view, Sanjeevini Group Chairman and Founder Umesh Gowda HA said, "India's housing market has demonstrated remarkable resilience despite the geopolitical tensions in the Middle East."

He added that strong economic fundamentals, sustained policy support and healthy domestic demand have helped the sector remain largely insulated from external uncertainties.