Housing units sale dips 20% YoY in metros

CHENNAI: Top metros recorded a YoY decline in housing sales for the second consecutive quarter during the current calendar year. Housing sales dropped by 20% in Q2 CY2025 at 96,285 units against 1,20,335 units in the same quarter last year (April-June CY2024), a report by property consultant Anarock said.

The dip was 28% in the previous quarter Q1 (Jan-March) CY2025 over Q1 CY2024. However, housing sales marginally rose by 3% QoQ (Q1 vs Q2) this year (CY2025). The report released on Thursday said, Mumbai Metropolitan Region (MMR) and Pune with the highest sales among the seven top metros in Q2 CY2025 at 31,275 units and 15,410 units, respectively, recorded dip in sales by 25% and 27% YoY. Chennai was the only metro that witnessed an YoY increase in sales by 11% at 5,660 units.

In contrast, housing unit sales rose by 14% YoY between Q2 CY2024 and the corresponding period of CY2023.

On a QoQ basis, sales in MMR and Pune were down by just 1% and 4%, respectively, while developers in Bengaluru, NCR and Hyderabad had a 1%, 14% and 9% growth in sales. Anuj Puri, chairman – Anarock Group, said, "The second quarter of 2025 was a rollercoaster for the Indian housing market, rocked by major military actions at home and abroad.

The war-like climate pushed homebuyers into wait-and-watch mode, compounding the impact of soaring property prices over the past two years.

"Shekhar G Patel, president, Credai, said the slowdown in quarterly sales observed in some markets can be attributed to a combination of elevated input and land costs, inflationary pressures on household budgets, and a more measured pace of new project launches—factors that have contributed to temporary caution among certain buyer segments"."However, this short-term trend should not be viewed as indicative of the sector’s overall health. The RBI's recent decision to reduce the repo rate by 50 basis points is expected to positively influence buyer sentiment. With another rate cut anticipated later this year and the festive season approaching in Q3 and Q4, the housing sector is poised for a gradual but steady recovery in the second half of 2025," he told TOI.Pradyumna Krishnakumar, executive director, Brigade Group, said, the increase in housing sales in Bengaluru and Hyderabad during Q2 CY2025 can be attributed to the potential turnaround after a subdued Q1.