Sustanined and Strong Residential Sector: Residential Performance Analysis Q1 2024 - CBRE
The momentum from the previous year sustained strong residential sales, with approximately 85,000 units sold in Q1 2024, marking an 8% increase compared to the previous year. Additionally, the supply of new housing units remained strong, with developers introducing around 80,000 units during the quarter, showing a slight decrease of about 2% year-on-year.
Mumbai, Pune and Hyderabad had 69% of new unit launches. While Mumbai, Pune and Bangalore had 64% share in the sales in Q1 2024. An intersting trend towards luxury, there was a 64% increase in the luxury apartment launches Y-o-Y. Share of affordable went down from 18% to 15% from last quarter to this quarter, even the prmium segment's share went down from 10% to 7% from last qaurter to this quarter.
All major cities have increased or were stable at their sales and new inventory numbers. The numbers suggest on continuation of robust growth in residential sector.
Mumbai, Pune and Hyderabad had 69% of new unit launches. While Mumbai, Pune and Bangalore had 64% share in the sales in Q1 2024. An intersting trend towards luxury, there was a 64% increase in the luxury apartment launches Y-o-Y. Share of affordable went down from 18% to 15% from last quarter to this quarter, even the prmium segment's share went down from 10% to 7% from last qaurter to this quarter.
All major cities have increased or were stable at their sales and new inventory numbers. The numbers suggest on continuation of robust growth in residential sector.
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