Q1 2025 sees 12% YoY dip in home sales to 65,246 units.
News release
09 April 2025
Luxury home demand cushions market: 65,250 units sold in Q1 2025
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Demand for INR 1 crore and above homes bolsters market, prevents overall sales of ~65,250 units from hard landing: JLL
Q1 2025 witnessed a total 10% year-on-year growth in demand for apartments priced INR 1 crore and above, largely driven by 22% year-on-year growth in sales of INR 1.5-3.0 crore housing segment. Premium housing (INR 3.0-5.0 crore) closely followed with 20% year-on-year growth.
Bengaluru, Mumbai, and Pune maintained their dominance in the residential sector, accounting for approximately two-thirds (~66%) of total sales in the first quarter of 2025
Despite a decline in sales, new property launches showed modest growth compared to the previous year
In the first quarter of 2025, Bengaluru set a record for residential launches, surpassing all other Indian cities and achieving its highest quarterly launch volume to date.
MUMBAI, APRIL 24, 2025: Despite a steady decline in quarterly sub-1crore housing sales which generally constitute a substantial proportion of the overall demand, residential sales in Q12025 (January-March) experienced only a modest decline of 12% year-on-year and added up to 65,246 units. This limited drop was primarily due to robust demand in the INR 3.0-5.0 crore and INR 1.5-3.0 crore segments, which helped counterbalance the slowdown in relatively affordable housing. The steady growth in higher ticket size homes indicates increasing affluence among homebuyers, changing lifestyle preferences and buyers prioritizing larger and premium properties.
Housing sales in India's top seven cities continued to be dominated by Bengaluru, Mumbai, and Pune, which collectively accounted for ~ 66% of Q12025 sales. High concentration of MNCs and startups creating significant employment opportunities and ongoing infrastructure improvements make these cities increasingly attractive places to live and work. In addition to a 12% year-on-year drop in demand, total sales of 65,246 units during Q12025 recorded an almost similar 11% decline Q-o-Q. In terms of ticket size wise segregation of quarterly sales, only INR 1.5-3.0 crore homes witnessed around 14% Q-o-Q growth, accounting for ~24% share in quarterly sales volume.