Housing Sales Drop 28% in Q1 2025: Anarock

New Delhi, Mar 27 (PTI) Housing sales are estimated to decline 28 per cent in January-March period across seven major cities to 93,280 units due to high prices and global uncertainties, according to Anarock.

Real estate consultant Anarock, one of the leading housing brokerages, said, "Skyrocketing residential prices coupled with geopolitical headwinds have slowed the Indian housing market's bull-run in Q1,2025."

As per the data, the total housing sales are estimated at 93,280 units in January-March 2025, a 28 per cent decline from 1,30,170 units in the year-ago period.

Among seven major cities, Delhi-NCR is expected to witness a fall of 20 per cent in sales to 12,520 units from 15,650 units.

In Mumbai Metropolitan Region (MMR), sales of residential properties are estimated to decline 26 per cent to 31,610 units from 42,920 units.

Housing sales in Bengaluru are seen falling 16 per cent to 15,000 units from 17,790 units.

In Pune, sales could drop 30 per cent to 16,100 units from 22,990 units.

Housing sales in Hyderabad are expected to fall 49 per cent to 10,100 units from 19,660 units.

Chennai is expected to see a 26 per cent decline in sales to 4,050 units from 5,510 units.

The sales of residential properties in Kolkata are estimated to be lower by 31 per cent in January-March this year to 3,900 units from 5,650 units in the corresponding period of the previous year.

"India's overall economic scenario remains positive, with GDP growth rate pegged to be the highest globally and inflation also under control," Anarock Chairman Anuj Puri said.

"However, rising housing prices and global headwinds like ongoing geopolitical tensions and a weak global economy, has taken their toll on India's residential market activity. These factors cascaded down into the housing market in Q1 2025," Puri added.

Commenting on the report, Construction firm BCD Group CMD Angad Bedi said the drop in sales of housing units is an indication of market correction.

Bhavesh Kothari, Founder & CEO of Property First, said the demand in the residential real estate segment is cyclical but added that enquiries from prospective customers remain strong.

Ashish Agarwal, Director of AU Real Estate, said, "As developers, we see this as an opportunity to recalibrate and focus on delivering value-driven, high-quality homes that cater to evolving buyer preferences. Market corrections pave the way for sustainable growth and innovation, ensuring a healthier balance between supply and demand."

He remained positive about future growth in residential real estate segment.

Recently, real estate data analytics firm PropEquity too stated that housing sales could decline 23 per cent annually to nearly 1.06 lakh units during January-March across nine major cities.

Salil Kumar, Director, Marketing and Business Management, CRC Group said, After 2-3 years of high growth, the real estate sector is in the consolidation phase and, as the nature of things goes, it was expected. Even though the housing sale and new launches have slightly tapered, the sector will rebound.