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Growth momentum in the residential housing sector will continue in coming months according to a report by CBRE.
The report said "Several factors are contributing to this positive trend. An increasing desire for homeownership, coupled with rising income levels and ongoing infrastructure improvements, has fuelled demand". The demand was driven by several positive factors, including a growing desire for homeownership, rising income levels, and continuous infrastructure development. A notable shift was seen towards the high-end and premium housing segments, which together accounted for about 40 per cent of total apartment sales and around 44 per cent of new launches during the quarter. High-end projects alone contributed 27 per cent to total sales, with the rest being driven by mid-end and budget categories. Key metropolitan cities like Mumbai, Pune, and Delhi-NCR led the market activity, making up 62 per cent of the total sales in Q1 2025. The report also said that India's residential real estate market maintained a balanced momentum in the first quarter of 2025, with sales and new launches nearly matching. The report mentioned that around 65,800 apartments were sold during the period, while approximately 65,300 new units were launched, reflecting a state of equilibrium in the sector. It said "India's residential market witnessed an equilibrium between new launches and sales in Q1 2025; approximately 65,000 units were launched, mirroring the volume of sales". The report highlighted that developers showed a strong understanding of market demand, keeping unsold inventory and project overhang under control. Additionally, the report also highlighted that the Reserve Bank of India's recent shift towards a monetary easing cycle has made home loans more accessible, encouraging more buyers to take the plunge. The narrowing gap between EMIs and rental costs also pushed more people towards buying homes. Looking ahead, the report noted that project launches are expected to stay strong through the year, backed by significant land acquisitions made during 2023-24. This proactive move by developers is likely to maintain the growth momentum in the residential sector in the coming months. (ANI)
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