+
Housing sales increase 5% in Q3 2024: Knight Frank
Real Estate

Housing sales increase 5% in Q3 2024: Knight Frank

Housing sales across eight major cities rose 5% year-on-year during the July-September period, reaching 87,108 units, driven by strong demand for premium homes, according to Knight Frank India.

In a webinar, the real estate consultant released its 'India Real Estate' report for Q3 2024, highlighting a modest increase in housing sales compared to reports from Anarock and PropEquity, which indicated a decline in total sales during the same period.

""The residential market has shown positive momentum in 2024, with Q3 recording the highest quarterly sales this year at 87,108 units,"" the report noted.

During a virtual press conference, Knight Frank India CMD Shishir Baijal emphasized that the growth in housing sales is primarily fueled by demand for premium properties priced above ₹1 crore. However, he raised concerns about the affordable housing segment, noting a decline in sales due to issues with availability and affordability.

The report indicates that housing sales have increased in most markets, except in Delhi-NCR, where sales dipped by 7% year-on-year.

Mumbai led the sales with 24,222 units, marking a new high for the market and a 9% increase compared to last year. Bengaluru saw the largest growth among major markets, with sales rising 11% year-on-year to 14,604 units.

Pune's housing sales increased by 1% to 13,200 units, while Hyderabad experienced a 9% rise, reaching 9,114 units. Ahmedabad recorded an 11% growth in sales to 4,578 units, and Kolkata saw a 14% increase to 4,309 units. Chennai also reported a 6% increase, totaling 4,105 units.

In contrast, the Delhi-NCR region faced a decline, with residential sales falling 7% to 12,976 units compared to the same period last year.

Housing sales across eight major cities rose 5% year-on-year during the July-September period, reaching 87,108 units, driven by strong demand for premium homes, according to Knight Frank India.In a webinar, the real estate consultant released its 'India Real Estate' report for Q3 2024, highlighting a modest increase in housing sales compared to reports from Anarock and PropEquity, which indicated a decline in total sales during the same period.The residential market has shown positive momentum in 2024, with Q3 recording the highest quarterly sales this year at 87,108 units, the report noted.During a virtual press conference, Knight Frank India CMD Shishir Baijal emphasized that the growth in housing sales is primarily fueled by demand for premium properties priced above ₹1 crore. However, he raised concerns about the affordable housing segment, noting a decline in sales due to issues with availability and affordability.The report indicates that housing sales have increased in most markets, except in Delhi-NCR, where sales dipped by 7% year-on-year.Mumbai led the sales with 24,222 units, marking a new high for the market and a 9% increase compared to last year. Bengaluru saw the largest growth among major markets, with sales rising 11% year-on-year to 14,604 units.Pune's housing sales increased by 1% to 13,200 units, while Hyderabad experienced a 9% rise, reaching 9,114 units. Ahmedabad recorded an 11% growth in sales to 4,578 units, and Kolkata saw a 14% increase to 4,309 units. Chennai also reported a 6% increase, totaling 4,105 units.In contrast, the Delhi-NCR region faced a decline, with residential sales falling 7% to 12,976 units compared to the same period last year.

Related Stories

Gold Stories

Next Story
Real Estate

Peninsula Land launches 19 luxury villas in Pune

Pune’s residential landscape is witnessing a shift as premium homebuyers increasingly seek larger spaces, privacy and independent living options beyond high-rise apartments. Addressing this demand, Peninsula Land Limited, part of the Ashok Piramal Group, has launched AshokVillas, an exclusive collection of 19 premium furnished villas in Gahunje, Pune.The development combines the independence of a standalone home with the convenience and security of a managed residential community. Designed around low-density horizontal living, AshokVillas offers residents private spaces while providing acces..

Next Story
Infrastructure Urban

MyBranch Expands South India Network with 16 Workspace Centres

MyBranch has expanded its South India presence with a 50,000 sq ft flexible workspace network comprising 16 centres across 14 cities in Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.The expansion reflects growing demand for flexible office infrastructure as businesses establish regional teams, satellite offices and operations beyond traditional metropolitan markets. MyBranch’s network spans Bengaluru, Coimbatore, Guntur, Hanamkonda, Hubballi, Hyderabad, Madurai, Mangaluru, Rajahmundry, Salem, Tirupati, Vellore, Vijayawada and Visakhapatnam, with a large office space in Chennai also und..

Next Story
Building Material

Walplast Launches Moisture-Resistant Gypsum Plaster Solutions

Walplast Products Pvt. Ltd. has expanded its HomeSure GypEx portfolio with the launch of GypEx MoistShield and GypEx Gold, two gypsum plaster solutions designed to address moisture-prone applications and improve plastering efficiency.The new products have been developed in response to the growing demand for faster construction processes, improved material performance and consistent surface quality. The solutions aim to simplify interior plastering while addressing specific application requirements across construction environments.“Through HomeSure GypEx MoistShield and GypEx Gold, we are exp..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code