Page 4 - Housing

Australia to go to polls on May 3, inflation, housing shortage major issues

Australians will go to the polls on May 3 for general elections with high costs of living and a shortage of housing likely weighing against the government as Prime Minister Anthony Albanese's centre-left Labour Party seeks a second three-year term. Albanese drove to Governor-General Sam Mostyn's official residence on Friday to trigger the election and announced the date later at a news conference at Parliament House. "Over the last few years, the world has thrown a lot at Australia. In uncertain times, we cannot decide the challenges that we will face, but we can determine how we respond," Albanese said. "Our government has chosen to face global challenges the Australian way: helping people under cost-of-living while building for the future," he added. Many expect opposition leader Peter Dutton's conservative coalition to pick up seats in the House of Representatives. An Australian government has not been ousted after a single term since 1931, when the nation was grappling with th

Primus launches B'luru's 1st multi-generational community 'Primus Sangama'

A multi-generational community is typically designed for children, adults, and seniors to coexist while maintaining independent lifestyles

Real estate major DLF eyes Rs 74k cr in sales from new housing projects

Realty major targeting luxury housing market with products totalling 26 million square feet in pipeline

Mumbai's Worli sees ultra-luxury deals worth Rs 4,862 cr in 2 yrs: Anarock

The locality had a total housing supply of 4,600 units till 2024, with an average price of Rs 75,000 per square foot

Housing demand strong in major cities, but euphoria easing: Pirojsha Godrej

Demand for residential properties remains "very strong" across major cities but the euphoria seen in the last few years is mellowing down a little bit, said Pirojsha Godrej, the executive chairperson of Godrej Properties. Godrej Properties is one of the leading real estate developers in the country. It became the largest listed realty firm in 2024 in terms of sales bookings or pre-sales by selling more than Rs 28,000 crore worth of properties. In an interview with PTI, Pirojsha Godrej noted that there is no demand slowdown in the housing market, as reflected from the company's pre-sales numbers. "Am I seeing a slowdown in demand. The answer is 'No'. Because we have seen Rs 500 crore plus sales in our new housing project launches in five different cities (during the December quarter) across North, South, West and East India. That to me is pretty indicative of a very strong housing market," he said. Pirojsha added: "But, I would say that some of that euphoria is perhaps mellowing dow

Realtors upbeat as 13,000 Mumbai buildings are audited for redevelopment

Old, dilapidated structures could be turned into new residential units but work to turn them around is challenging

Hudco raises Rs 2,910 crore; Sidbi garners Rs 6,000 crore through bonds

Cut-offs rise by 7-10 bps since rate cut

India's student housing market expected to expand as demand rises

Student enrolment in higher education was 43.3 million in 2021-22, increasing 26.5 per cent from 34.2 million in 2014-15, according to data from the Ministry of Education

Increased spending on housing projects will drive demand: Cement makers

Increased spending on large-scale housing and infrastructure projects announced in the Budget by the finance minister Nirmala Sitharaman will drive demand for construction materials, and allow capacity expansion, said cement makers. The Budget presents a vision for India's economic growth emphasising rural and urban development, increased infrastructure investment, employment-led growth and strategic investments, said the Cement Manufacturers' Association (CMA) welcoming the Union Budget. "The focus on increased investments on infrastructure across states amplifies opportunities and avenues for the growth of the cement sector. We appreciate the sustained core focus on infrastructure and reiterate our commitment to being partners in the Nation's progress," said CMA President Neeraj Akhoury. Moreover, the government's push on large-scale housing and infrastructure projects will drive demand for construction materials and help in capacity expansion, he said. "We are certain that despi

SWAMIH boosts affordable housing, fund of Rs 15,000 cr to be established

Under the SWAMIH Fund, 50,000 dwelling units in stressed housing projects have been completed, and keys handed over to homebuyers

Demand for affordable housing strong despite supply challenges: Experts

In India, today, 95 per cent of housing loan requirements come from economically weaker sections (EWS) and low-income groups (LIG) who can't afford a house

Housing prices to moderate at 3-4% in FY26 on high base effect: Ind-Ra

Housing prices are likely to rise 3-4 per cent next fiscal on high base effect and better supply, according to India Ratings and Research (Ind-Ra). The rating agency expects the housing price rise to taper in the 2025-26 financial year. Ind-Ra expects property prices to increase 5-6 per cent year-on-year (YoY) in 2024-25 fiscal, then moderate to 3-4 per cent YoY for 2025-26, due to base effects and new launches. Prices surged 21 per cent YoY in 2023-24 with old stock cleared and existing inventory largely liquidated, the agency said. Ind-Ra has maintained a neutral outlook for the residential real estate sector for the next fiscal. "Growth in bookings is likely to reduce significantly due to the high base, high prices and a likely slowdown in the luxury segment," it said. The residential real estate market is expected to register a strong performance in 2024-25, where the sales growth will be around 17 per cent YoY in terms of area sold (square feet of area sold) and around 15 pe

Affordable housing crisis pushes Spain to plan 100% tax on non-EU buyers

Spain is planning a raft of measures to address its brewing housing crisis, including an up to 100 per cent tax on properties that non-European Union residents buy. Spanish Prime Minister Pedro Sanchez announced the plan this week which will tackle housing affordability and high rents in the Southern European nation. He said the overall goal was to provide more housing, better regulation and greater aid. However, it remains unclear if the plan put forth by Snchez's minority coalition would pass in Parliament. Here's a look at what's happening: Spain's housing affordability crisis Like most rich countries, Spain is in the throes of a growing housing affordability problem. Skyrocketing rents are particularly acute in cities like Barcelona and Madrid, where incomes have failed to keep up, especially for young people. Housing prices are also steadily rising, especially in cities and coastal areas. Rental prices have also been driven up by short-term rentals mainly offered for tourist

Land deals rose to over 2,200 acres, mainly for housing projects: CBRE

Indian real estate sector saw more land deals in 2024 at over 2,200 acres as developers were looking to expand the business, according to CBRE. Real estate consultant CBRE data showed that land deals of more than 2,200 acres last year as against about 1,900 acres in the preceding year. Out of the total land transactions in 2024, around 2,000 acres were located in the eight major cities -- Delhi-NCR, Bengaluru, Mumbai, Chennai, Pune, Hyderabad, Kolkata and Ahmedabad. Nearly 1,200 acres of land are meant for residential projects, around 580 acres for industrial & warehousing parks and 200 acres for data centres. Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa, CBRE, said, "The significant growth in land deals across diverse asset classes highlights strong investor confidence in India's real estate market." The residential segment is booming due to rising urbanisation, favourable policies, and increased affordability, he ...

Industry leaders seek affordable housing, duty relief at pre-Budget meet

The housing and infrastructure sectors were represented by leaders such as Hiranandani Group, Afcons, L&T, and GMR Group

HUA ministry focussed on metro expansion, affordable housing in 2024

The expansion of the metro rail network, installation of 84,000 CCTV cameras, development of over 700 km of cycle tracks, and construction of 88 lakh houses in cities were key focus areas for the Union Housing and Urban Affairs Ministry in 2024. Besides, the ministry launched several initiatives under the Smart Cities Mission (SCS), Swachh Bharat Mission and the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) -- flagship programs of the Narendra Modi government. As of November 15, 13 out of 100 smart cities have successfully completed all their projects, while 48 cities have achieved over 90 per cent completion. Over 84,000 CCTV surveillance cameras have been installed, and 713 km of cycle tracks have been developed across the 100 smart cities so far. According to the ministry, 23 smart cities have completed more than 75 per cent of their projects, and 714 ongoing projects, totalling Rs 17,303 crore, are currently in the implementation phase. Recently, Union Ministe

India's housing market in de-growth phase, pins hopes on upcoming Budget

New home sales in India declined for the first time since the pandemic, as a sharp rise in housing prices and elevated borrowing costs ruined buyers' appetite in 2024 and the real estate industry is now eyeing the upcoming Budget for favourable economic conditions -- a key to reviving demand conditions. The de-growth in the Indian housing market came after three straight years of stellar growth, following the COVID-era downturn, and was attributed in part to a high base in the previous year, a fall in supply of new homes and price appreciation. Anuj Puri, Chairman of Anarock, one of the leading housing brokerage firms in the country, termed the year 2024 as a "mixed bag" for the Indian residential market and noted that, while demand for the affordable housing segment was weak, sales and launches of luxury homes remained strong. India's residential real estate market, estimated to be valued at over USD 300 billion, faced a marginal 4 per cent drop in sales volumes during 2024, ...

Housing supply up 44% in Delhi-NCR this year to 53,000 units: Anarock

The Delhi-NCR housing market witnessed a 44 per cent growth in new supply this year to 53,000 units, of which nearly 60 per cent were ultra-luxury homes priced above Rs 2.5 crore each, according to Anarock. The number of new launches of residential properties stood at 36,735 units during 2023. Real estate consultant Anarock has released the data of primary (first sale) housing market for 2024 of India's seven major cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, Bengaluru, Chennai, Hyderabad, and Kolkata. As per the Anarock data, Delhi-NCR launched 53,000 new housing units in 2024 -- a significant 44 per cent rise over 2023. "Over 59 per cent of the new supply was in the ultra-luxury segment priced more than Rs 2.5 crore," it said. According to the data, housing sales in Delhi-NCR declined 6 per cent to 61,900 units in 2024 from 65,625 units in the preceding year. Overall, these seven cities saw a 7 per cent decline in launches to 4,12,520 during 2024 from 4,45,770 u

Housing shortage to reach 31.2 mn units by 2030: CII-Knight Frank report

India is estimated to have a cumulative affordable housing shortage of 31.2 million units by 2030 with a potential market size of Rs 67 trillion, according to a joint report by CII and Knight Frank. Industry body CII and real estate consultant Knight Frank India on Wednesday released a joint report 'Affordable Housing in India' at a conference here, pointing out that there is already an existing shortage of 10.1 million units. Addressing the event, Ghulam Zia, Senior Executive Director, Research, Advisory, Infrastructure & Valuation at Knight Frank India, pointed out the shortage of affordable housing in India, presenting a huge business opportunity for real estate developers. "The cumulative Affordable housing shortage in India is projected to reach 31.2 million by 2030, with the market size estimated at Rs 67 trillion," he said. The affordable housing segment also could provide a lot of opportunities for financial institutions. "Based on the assumption of a 77 per cent loan ...

Top Indian cities report about 1 million unsold housing units: Study

The new housing supply during Q3 2024 declined by 19 per cent YoY