Indian Housing Market Sees 19% Sales Dip In Q1, Says PropTiger

Housing sales in eight major Indian cities dipped in the January-March quarter of calendar year 2025, as rising property prices and a slowdown in new launches dampened buyer sentiment, according to real estate consultancy PropTiger.

Sales fell 19% year-on-year to 98,095 units during the period.

PropTiger, part of REA India which also owns Housing.com, stated in its latest report Real Insight, that escalating property prices and weakening economic conditions have led to increased caution among homebuyers.

“The huge spike in prices had already started to show its adverse impact on sales. With a global trade war now bringing new uncertainty, it is only natural for buyers to adopt a cautious approach to investment, particularly in something so big as real estate,” said Dhruv Agarwala, group chief executive officer of Housing.com and PropTiger.

The report also highlighted a 10% drop in new housing supply during the first quarter of 2025, with 93,144 units launched compared to 1,03,020 units during the same period last year, as developers adjusted to evolving market conditions.

City-wise, the sales trends were mixed:

• Ahmedabad witnessed a 17% decline in sales, down to 10,730 units from 12,915 units.

• Bengaluru registered a 13% increase in sales, rising to 11,731 units from 10,381 units.

• Chennai also saw growth, with an 8% rise in sales to 4,774 units from 4,427 units.

• In Delhi-NCR, sales dropped by 16% to 8,477 units from 10,058 units.

• Hyderabad experienced a sharp 26% fall in sales to 10,647 units from 14,298 units.

• Kolkata recorded a marginal 1% decline, with 3,803 units sold compared to 3,857 units.

• Sales in the Mumbai Metropolitan Region decreased by 26% to 30,705 units from 41,594 units.

• Pune saw a 25% drop, with 17,228 units sold, compared to 23,112 units in the same period last year.

Bengaluru and Chennai were the only two cities to report a year-on-year increase in housing sales.

The data pertains solely to the primary residential market, excluding transactions in the secondary (resale) housing market.

(With inputs from PTI.)