The property sales in 2025 will be the lowest after 2021! Due to this, homes are not buying home buyers
Sales of houses I am constantly decreasing. According to a report by real estate data analyst company Propket, the sales of homes in 9 major cities of the country are estimated to be reduced by 19 percent to 94,864 units in April-June. In its report released on Sunday, the Propequity said that the sales of homes in the second quarter of the current calendar year are estimated to be reduced by 19 percent to 94,864 units, compared to 1,16,432 units in the same period a year ago. Sameer Jasuja, founder and Chief Executive Officer (CEO) of the Propkets said that this is the first time after the third quarter of 2021 (July-September) when the sales of houses have come below one lakh unit levels. That is, the sale of houses in 2025 has reached a 4 -year low.
Why are home buyers not buying houses?
Experts associated with the real estate sector say that the only reason behind the decrease in the demand of houses is the sky touching price. The price of property has increased wildly in the last 4 years. There is no logic behind this, why the price has increased so fast? Has the prices of Raw-Materials increased a lot or have the land costs already running? The builder has arbitrarily increased the price. Due to this, property has gone out of the reach of many people. Now they are not able to buy a house even if they want to. Due to this, the demand for property has been reduced automatically. In the coming time, it can call a big recession. There have been situations in the past when there has been a long recession in the real estate sector. Now only luxury houses are being sold. Some rich people are dealing with it. At the same time, the affordable is no longer. Hence the sale of houses is falling.
New supply also declines
The new supply during the period under review is estimated to be reduced by 30 percent to 82,027 units from 1,17,208 units. According to the data, the sale of houses in Bangalore in April-June this year is estimated to be reduced by six percent to 14,676 units, compared to 15,582 units in the same period last year. The sales of residential properties in Hyderabad are estimated to be reduced by 20 percent to 11,815 units from 14,704 units. Home sales in Mumbai may be reduced by 34 percent to 8,006 units from 12,114 units. Sales in Navi Mumbai are expected to be reduced by 17 percent to 6,833 units from 8,224 units. The sale of houses in Thane is estimated to be reduced by 34 percent to 14,832 units from 22,512 units. Sales in Pune may be reduced by 27 percent to 17,196 units from 23,429 units. Home sales in Kolkata are expected to be reduced by eight percent to 4,449 units from 4,826 units.
Estimates of increasing sales in these two cities
However, sales are expected to increase in residential markets of Delhi-NCR (National Capital Region) and Chennai. The sales of homes in Delhi-NCR can increase 16 percent from 10,114 units to 11,703 units. The sales of residential properties in Chennai are expected to increase nine percent to 5,354 units during April-June, 2025, which was 4,927 units in the same period a year ago. The NSE -listed company PENalitics proprietorship the propIquity platform.
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