Housing sales up 2% in Jan-Mar in 8 cities on strong demand: Knight Frank

Housing sales in the January- March period rose 2 per cent to 88,274 units across eight major cities as consumer demand for residential properties continues to be strong, according to Knight Frank.

On Thursday, real estate consultant Knight Frank India released its report 'India Real Estate: Residential and Office (January-March 2025)' which showed stability in demand across primary (first sale) housing markets of eight major cities.

During JanuaryMarch, the consultant said that primary residential sales reached 88,274 units, a 2 per cent annual increase over the year-ago period.

Knight Frank data showed a marginal increase in sales during the latest March quarter, contrary to PropEquity and Anarock reports, which stated a 23 per cent and 28 per cent decline in housing demand in the first quarter of this calendar year.

Shishir Baijal, Chairman & Managing Director of Knight Frank India, said, "The real estate market has remained strong in the face of rising concerns of overheating in certain segments. The sustained premiumisation trend reflects homebuyers' aspirations for better lifestyles and larger living spaces."  While the overall housing sales remained steady, performance varied across key markets, Knight Frank said, adding that four of the eight tracked cities saw a decline in sales while three cities witnessed an increase.

Among eight cities, housing sales in Mumbai rose 5 per cent in January- March 2025 to 24,930 units.

Pune saw a 20 per cent increase in sales to 14,231 units, while Chennai witnessed a 10 per cent growth to 4,357 units.

However, the sales in Delhi-NCR fell 8 per cent annually in January-March to 14,248 units.

Bengaluru saw a 5 per cent decline in sales to 12,504 units, while Hyderabad witnessed a fall of 1 per cent to 9,459 units. In Kolkata, the housing sales decreased 2 per cent to 3,858 units.

Sales of residential properties in Ahmedabad remained flat at 4,687 units during the January-March period of the current calendar year.