PROPEQUITY
Housing sale in tier 2 cities increases by 11% Y-o-Y
As per the data, the sales of housing units in India’s 30 major tier II cities stood at 2,07,896 units in 2023-24 as against 1,86,951 units in the preceding financial year.
Housing sales in top 30 Tier II cities up 11% in FY24 to nearly 2.08 lakh units: PropEquity
Housing demand in India has increased by 11% last fiscal, reaching nearly 2.08 lakh units across 30 Tier II towns, according to PropEquity's report. The top 10 Tier II cities contributed 80% to the total sales in these small towns, with sales of 1,68,998 units in 2023-24. The other 20 Tier II cities include Bhopal, Lucknow, Goa, Coimbatore, Raipur, Vijayawada, Indore, Kochi, Trivandrum, Mangalore, Guntur, Bhiwadi, Dehradun, Ludhiana, Chandigarh, Agra, Mysore, Sonepat, Panipat and Amritsar.
New home supply falls 13 pc in Apr-Jun as builders launch fewer projs due to polls: PropEquity
PropEquity data shows that new housing supply in April-June is estimated to fall to 97,331 units across nine major cities as against 1,11,657 units in the year-ago period.
Housing sales likely to fall 2 pc in Apr-June to nearly 1.2 lakh units across top 9 cities
Housing sales estimated to decline 2% to nearly 1.20 lakh units in current quarter across major cities, mainly due to lower demand in Hyderabad and Pune, as per PropEquity data.
Sales of affordable homes fall 4% in Mumbai, Bengaluru and other top cities in Jan-Mar: PropEquity
Sales of affordable homes priced up to Rs 60 lakh each declined 4% in eight major cities to 61,121 units during January-March due to lower supply and higher demand for luxury apartments, as per PropEquity data.
Affordable homes supply down 38%
New supply of affordable homes - priced up to ₹60 lakh each - declined 38% across eight major cities to 33,420 units during January-March this year, with builders focusing on developing luxury flats, according to PropEquity. Real estate data analytic firm PropEquity attributed the fall in new supply to sharp rise in land and construction costs, which has made development of affordable housing projects less profitable or unviable.
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Unsold homes in 9 cities down 7 pc in last 3 months; 12pc fall in NCR: Report
Unsold housing inventories fell 7 per cent in the last three months across 9 major cities to around 4.81 lakh units on higher sales than new supply, according to PropEquity. Real estate data analytic firm PropEquity data showed that unsold housing stock has come down to 4,81,566 units at the end of March this year from 5,18,868 units at the end of December 2023 across 9 major cities.
Residential sale in FY24 reached a decadal high with almost 5 lakh units sold
The Indian housing market saw record-breaking sales in Q4FY24, with 130,170 units sold across the top 7 cities, marking a 14% yearly increase. Total sales for FY24 reached 492,900, a 30% rise from the previous year. Despite new launches surpassing 100,000 units, inventory dropped by 7% annually. Notably, NCR witnessed the highest decline in unsold stock.
Realtors put a lock on festive offers amid high demand
As per industry reports, residential sales in India are projected to achieve a record high in 2023, as developers anticipate selling more than 500,000 housing units by the year's end. According to data analytics firm PropEquity Data, in 2022, developers in the top seven cities sold 464,849 units. In the first nine months of this year, they have already sold 372,961 units.
Realtors expect record sales this year; unsold inventory hits a decadal low
Property developers in India's top seven cities are expecting home sales to reach more than half a million units this year, driven by strong demand and new launches. Despite concerns about rising interest rates, industry executives and experts believe that demand will remain robust. The reduction in unsold housing stocks in tier-1 cities also indicates the confidence of homebuyers. New property launches in the top cities have remained consistent with 2022 levels, and the market's resilience is evident with an 8% rise in absorption compared to last year. Pune, Hyderabad, and Thane have emerged as leaders in new launches and absorption.
Unsold housing stocks dropped by 11% in top 9 cities: PropEquity Study
According to PropEquity research data, unsold housing stocks in Tier 1 cities in India decreased by 11% in Q3 2023 compared to the previous year. While Hyderabad saw a 6% increase in unsold stock, Delhi-NCR region experienced a 7% drop. The rise in housing prices and mortgage rates has posed challenges to housing demand. However, if interest rates on home loans remain stable or soften, an increase in housing demand is expected.
Unsold homes highest in Thane at 1.07 lakh units, lowest in Chennai at 19,900 units: PropEquity
Thane in Mumbai holds the highest number of unsold homes with 107,000 units, while Chennai has the lowest with nearly 20,000, says data analytic firm PropEquity. Across nine cities, unsold housing stocks fell 2% to 515,169 units in Q2 from 526,914 in Q1.
Luxury rentals in South Delhi, Gurgaon witness significant increase
"The surge in demand for luxury properties has also had a direct impact on property rentals. As property prices rise, rental rates tend to follow suit,” said Ashwin Chadha, CEO, India Sotheby's International Realty. “This means that the rental market for luxury properties has experienced an upward trend, with landlords commanding higher rentals due to the increased demand and limited availability of such upscale accommodations.”
Unsold housing stocks decline in Noida, Greater Noida but increase in Gurugram, Chennai
Unsold housing stocks in India declined by 6% in Q1 2023 to ~518,000 units across 14 cities compared to the previous quarter, according to PropEquity. During Q1 2023, housing sales in India stood at 123,938 units while there were 93,600 new launches. However, unsold housing stock in Gurugram rose 17% to 12,903 units while Chennai's unsold housing stock increased 6% to 24,362 units.
Unsold housing stock down 12 pc across 9 cities to nearly 4.78 lakh units at end of September quarter
"The residential property market in the third quarter of 2022 has seen decent performance in the top cities on the country, both from the point of view of sales as well as new launches. There is a good appetite among the citizens of these cities for buying quality houses and thus there is significant buoyancy in the real estate market," said Samir Jasuja, Founder and Managing Director at PropEquity.
Housing sale in tier 2 cities growing at rapid pace: Report
The report highlights that there has been a remarkable jump in both absorption as well as supply of quality residential properties in various price brackets in these cities. The report has tracked performance of the residential segment of the real estate sector in various tier-II cities from FY 2017-18 to FY 2021-22.
Luxury housing supply share in total housing rise to 12% : Report
The share of luxury segment in supply pan India was 8% in Q2 2021. Mumbai is ranked number one in terms of luxury sales and supply in the second quarter of 2022 followed by Hyderabad.
Real estate data analytic firm, PropEquity, raises Rs 25 crore through IPO
“A lot of developers use our data to identify the benefit of the area where they are going to launch a project. PropTech companies have received good responses from the market. The fund will help us to expand our presence, especially in tier 2 cities, which has witnessed a lot of traction post covid,” said Jasuja.
Launches of housing units dipped by 24% to 69,812 in Q2 2022 from Q1 2022 at 91,489 units: Report
Sales or absorption fell by 7% in a sequential quarter (Q2 vs Q1) as developers across cities focussed on clearing earlier launched inventories.
Launch of housing units falls 54% in April-June quarter: Report
Stringent lockdown across major cities in India impacted housing sales as home registrations were also suspended including slow pace of home loan disbursals.
Home launches down 24% as realtors try to trim inventory
Housing launches dropped in Bengaluru (35%), Hyderabad (28%), Kolkata (28%), the Mumbai Metropolitan Region (31%) and Pune (23%) during the same period.
Sales of 3-BHK houses increase by 19% across top 7 cities: Report
Many of the working population in India are now looking to get larger homes as Work from Home (WFH) is still a recommended suggestion by the central and state governments to follow for corporates.
Home sales up 21 per cent in Q1 2021 but new launches down by 40%: Report
According to a report by real estate data analytic firm PropEquity, Bengaluru, Chennai, Hyderabad, MMR, NCR and Pune are the cities where home sales witnessed a growth in Q1 2021 versus Q1 2020 at 13%, 29%, 16%, 26% and 6% respectively. Only Kolkata witnessed a downfall of 20% in home sales during the same period.
Real estate developers struggle to meet targets as pandemic rears its ugly head
Realtors are struggling to meet both completion and launch targets as the necessary clearances from the relevant authorities are delayed because of the localized curbs on mobility. Supply bottlenecks are also becoming increasingly evident, as is the anxiety among the hard-hatted workforce engaged in construction.
34,075 housing units sold in February 2021 :Report
According to the PropEquity data, 34,075 housing units were sold in February 2021, marginally less than 34,376 in February 2020.
Luxury housing sales went up by 21% in February :Report
“Housing market has been improving over the last few quarters and our data suggests that home sales will continue to see growth in 2021. India is also undertaking the largest vaccine drive for Covid-19 and as we cover more and more population, we will witness a decent rise in demand,” said Samir Jasuja, managing director, PropEquity.
Housing sale yet to reach pre-Covid levels: Report
Comparing sales in January 2021 vs January 2020, it also dropped by 6% from 36,342 units to 34,149 units indicating downfall in a year ago period as well.
New launches of housing units increased by 56% in Q4 2020: Report
The report points out that new launches rose by 56% during the same period to 62,891 units from 40,275 units as market sentiment increased with COVID cases falling rapidly across India and recoveries growing at rapid pace.
Home sales revive, rise 20% in October: PropEquity
In September, a total of 22,469 housing units were sold. Despite the overall growth, the National Capital Region (NCR) was the only major market where the sales decreased by 3 per cent.
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