Housing Market

China's new home prices post steepest annual decline in nine years

In annual terms, new home prices slid 5.9 per cent in October, in their 16th consecutive month of declines, after a 5.8 per cent drop in September

Signature Global Q2 bookings jump nearly 3-fold on strong housing demand

Realty firm Signature Global has achieved a nearly three-fold increase in its sale bookings to Rs 2,780 crore during the second quarter of this fiscal year on better demand for its housing projects. Its sale bookings or pre-sales stood at Rs 980 crore in the year-ago period. "Despite the Shradhh period, Q2, FY25 pre-sales amounted to INR 27.8 billion, a 184 per cent increase against the Q2, FY24," Signature Global said in a regulatory filing on Tuesday. The company's sale bookings jumped over three-time to Rs 5,900 crore in the April-September period of 2024-25 fiscal from Rs 1,860 crore in the corresponding period of the preceding year. Signature Global, which has a significant presence in the Gurugram market, clocked sale bookings of Rs 7,270 crore in the 2023-24 fiscal and has given a target of Rs 10,000 crore for the current fiscal. "As we move forward, we're confident in maintaining this momentum and building on our shared achievements," its Chairman Pradeep Kumar Aggarwal ..

RBI status quo on interest rates to boost demand for realty sector: CEOs

The real estate industry experts are expecting the move to continue the growth momentum in the sector

Ahmedabad continues to be most affordable housing market in India: Report

Pune and Kolkata rank next in Knight Frank India's index, which says Mumbai is 'unaffordable'

China keeps lending rate unchanged as housing market still struggling

China's central bank kept a key lending rate unchanged on Monday, choosing not to loosen credit as data for May showed signs of persisting weakness in the world's No. 2 economy's manufacturing and real estate sectors. The central bank kept its rate for 1-year medium-term lending facility loans, used as a benchmark for other lending rates, at 2.5%. The decision aligned with expectations: instead of cutting already low interest rates Beijing has focused on channeling spending to areas considered to be high priorities such as high-tech industries. The government reported Monday that factory output fell 5.6% in May from the year before, slowing from 6.7% in April, though analysts noted some impact due to more work days in this year compared with the year before. Property investments fell 10% year-on-year and home sales sank 30.5%, suggesting a raft of measures to try to turn around a real estate slump have yet to take hold. Home prices in major, so-called Tier 1 cities like Beijing and

Signature Global to invest Rs 2,500 cr on housing projects in FY25: CMD

Realty firm Signature Global will invest around Rs 2,500 crore this fiscal on the construction of its various housing projects, its Chairman Pradeep Kumar Aggarwal said on Wednesday. He expressed confidence that the company would meet the sales bookings guidance of Rs 10,000 crore for the current 2024-25 financial year, a significant growth from Rs 7,270 crore in the preceding year. "We have speeded up the construction work across all our projects. We will be investing around Rs 2,500 crore during this financial year on pure construction activities," Aggarwal said on the sidelines of the Assocham real estate conference. He said the company is expecting to collect Rs 6,000 crore from customers this fiscal. The company would also utilise the surplus internal cash flow to acquire land and reduce debt, he added. "We are looking for land in Noida and Delhi markets for the development of housing projects," he said, adding that the company intends to launch projects in these two new citi

Rich Chinese spend millions on Shanghai's luxury property, defying crisis

Shanghai's luxury real estate market is a bright spot in China's bleak property sector

Real estate 'popular hedge' against inflation in last two years: Report

Investors can leverage real estate assets to borrow funds for further real estate acquisitions, says Anarock

Developers are curtailing affordable housing projects amid weak margins

According to PropEquity, new launches in the affordable housing segment have fallen over the last two years in both Tier-I and Tier-II cities

Indian housing market outlook bullish, consumer sentiments positive: Report

Consumers sentiments in India's housing market remain positive despite a rise in prices, according to realty portal Magicbricks. On Thursday, Magicbricks released a report 'Housing Sentiment Index' based on the survey of over 4,500 customers across 11 cities. "Despite inflationary pressures, the Housing Sentiment Index (HSI) across India remains robust with strong buyer confidence," it said in a statement. The survey revealed a positive market outlook for the Indian residential real estate sector with an overall HSI of 149. Magicbricks said the HSI is derived from an online survey capturing the responses of 4,500 high intent homebuyers across the top 11 cities of India, spanning various income brackets and budget preferences. The HSI score ranges from 0 to 200, with 100 representing neutrality. Indicating an expectation of market stability in the short to medium term. A score of 200 reflects a bullish sentiment while a score of 0 indicated a bearish sentiment. "Currently, the ...

Indian real estate to be worth $1.5 trn by 2034 as demand soars: Report

GDP could reach $10.3 trn in 10 years, creating demand for offices and housing for all economic sections

Housing sales up 68% in Jan-Mar to Rs 1.1 trn on higher volumes: Report

Housing sales rose 68 per cent in value terms to nearly Rs 1.11 lakh crore during the January-March period across major cities on higher volumes as well as price appreciation, according to PropTiger. In its quarterly report 'Real Insight Residential JanuaryMarch 2024', real estate brokerage firm PropTiger.com said that housing sales in value terms rose to Rs 1,10,880 crore in the January-March period of this calendar year from Rs 66,155 crore in the year-ago period. Vikas Wadhawan, Group CFO of REA India and Business Head of PropTiger.com, said, "Growth in housing sales both in volume and value terms augurs well for the overall economy as more than 200 ancillary industries, including cement and steel, are dependent on the real estate sector." In terms of area, housing sales surged 63 per cent to 162 million square feet in the first quarter of this calendar year from 99 million square feet in the corresponding period of the previous year. Housing sales grew by 41 per cent to 1,20,6

Signature Global to invest over Rs 1,200 cr/year to boost housing projects

Realty firm Signature Global will invest Rs 1,000-1200 crore per year to purchase land for the development of housing projects and encash strong consumer demand, its Chairman Pradeep Aggarwal has said. In an interview with PTI, he highlighted that housing demand has been very strong in the past two years across all segments, be it affordable, mid-income, premium, luxury or super luxury. Aggarwal expects the demand momentum to sustain on better economic growth. "We will be investing Rs 1,000-1200 crore every year for outright purchase of land to achieve our growth plan," Aggarwal said. Apart from outright land acquisition, he said the company would also be open to partnership with landlords for the development of housing projects. "We will continue to focus on the Gurugram property market for short to medium term," he said. On sales bookings, Aggarwal said the company is expecting to reach around Rs 7,200 crore this fiscal against Rs 3,430 crore in the previous financial ...

Despite high prices, more Indians want to buy a 3 BHK home: FICCI-Anarock

This is despite the fact that 55% of Indians believe their disposable income had been 'majorly' impacted by inflation

SPRE expect over Rs 1,000 cr revenue from luxury project in Mumbai

Shapoorji Pallonji Real Estate (SPRE) on Wednesday launched a new ultra luxury project in Mumbai with an estimated revenue potential of more than Rs 1,000 crore. The company would develop nearly 60 residential units in 'The Odyssey' project, located off Marine Drive, with a starting price of Rs 15 crore per flat. "The project comprises close to 60 apartments for sale, with revenues exceeding Rs 1,000 crore," SPRE said in a statement. The project has been designed by architect Hafeez Contractor. Venkatesh Gopalakrishnan, MD & CEO, SPRE, said, "At Shapoorji Pallonji Real Estate, we believe in creating more than just structures; we craft environments that redefine luxury and comfort. The Odyssey is a manifestation of this philosophy." With an expected revenue surpassing Rs 1,000 crore, he said, the project signifies a lucrative venture that sets new standards for ultra luxury projects in South Mumbai. "As we make our historic comeback to South Mumbai, we are confident that this ..

Housing sales up 31% in 2023, 476,530 units sold in top 7 cities: Anarock

Housing sales rose 31 per cent this year to nearly 4.77 lakh units -- an all-time high -- across seven major cities, despite price appreciation by an average 15 per cent, and higher mortgage rate, according to Anarock. Real estate consultant Anarock on Thursday released the annual data of seven major primary housing market, showing that housing sales increased to 4,76,530 units this calendar year from 3,64,870 units in 2022. Anarock Chairman Anuj Puri said, "2023 has been phenomenal for the Indian housing sector, despite global headwinds, rising domestic property prices, and interest rate hikes over the first half this year." Housing sales in the top 7 cities breached the previous high of 2022, and new launches stayed in step with the current housing demand, he added. Puri said it was widely expected that rising property prices and interest rates, along with global market uncertainties, would impact residential sales, but high demand sustained. As per the data, Mumbai Metropolitan

India's housing market to continue with high demand, growth in 2024

India's housing market defied logic this year to register all-time high sales as home buyers snapped up deals despite a jump in asking prices and the highest interest rates in six years. Market experts strongly believe the demand will not only sustain in 2024 but rise further, albeit at a slower pace, on high economic growth and expectations of a fall in home loan interest rate. The real estate industry saw record sales of residential properties in terms of both volumes and value, real estate market data showed as consumers are increasingly buying into the idea of home ownership post-Covid pandemic. The ouster of dubious developers from the real estate market thanks to greater regulatory oversight via RERA helped boost confidence among home buyers. The insolvency law too has played a role in elimination of defaulting builders. According to real estate consultant Anarock, housing sales are estimated to rise by 30 per cent this year to a record 4.74 lakh units in primary (fresh sales

Proptech startup HouseEazy raises $1 million from investors as seed funding

HouseEazy, a vertical marketplace for resale homes, on Tuesday said it has raised USD 1 million (over Rs 8 crore) from investors as seed funding led by Antler. Other notable investors in the round include India Accelerator, AC Ventures, Agility Ventures, Finvolve Ventures and industry veterans like Pirojsha Godrej (Executive Chairperson at Godrej Properties) and Sandeep Aggarwal (Founder at Droom), the company said in a statement. Seeking to bring trust, transparency and convenience to secondary real estate transactions, HouseEazy is building a full-stack, data-driven technology platform to provide the best prices and instant liquidity to sellers and title-checked, refurbished, ready-to-move-in homes to buyers. HouseEazy founders Tarun Sainani and Deepak Bhatia, who previously worked together at Godrej Properties, bring over 25 years of combined experience in the real estate industry. According to Housing.com data, proptech companies have received USD 4 billion in funding since 200

'Indian real estate most preferred in Asia-Pacific for global investors'

Colliers data also shows institutional investment in real estate soared 27 per cent year-on-year in the first nine months of 2023

China plans to allocate $137 bn of new funds to aid housing market

The outstanding amount of funds lent through the PSL program stood at 2.9 trillion yuan as of October.