Housing sales decline in 2024, industry pins hope on budget
Hindustan Times West UP|December 31, 2024
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.
Press Trust of India

NEW DELHI:

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.

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