Stability in Indian Housing Market: Regional Insights and Future Trends
Housing prices across major Indian cities have mostly stabilized in early 2023, with notable growth in Bengaluru and Hyderabad. PropTiger reports that year-on-year growth has slowed, suggesting a balanced market. The industry anticipates further consolidation by 2025, driving sustainable growth and stabilizing prices.
- Country:
- India
In an analysis of the Indian housing market, recent data reveals that prices have maintained stability across the Mumbai Metropolitan Region (MMR), Delhi-NCR, Chennai, and Pune during the first quarter of 2023, as reported by PropTiger.
While prices in these regions remained unchanged, Bengaluru and Hyderabad witnessed a 5% price increase, and Ahmedabad and Kolkata saw a 4% appreciation. This trend signals a slowing pace of growth, indicative of a stabilizing market.
Dhruv Agarwala, Group CEO of Housing.com & PropTiger.com, highlights the importance of this moderated growth trajectory in attracting end-users back to the market. Looking ahead, experts predict further market consolidation by 2025, which is expected to reinforce structural stability and enable steady, sustainable growth.
(With inputs from agencies.)
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