Housing sales plummet 13% in tier II cities

21 Oct 2024 , 02:29 PM

According to PropEquity, during the July–September period, housing sales in 30 major tier-II cities decreased 13% to 41,871 units due to a decrease in new supply and a larger base effect.

The housing report for the top 30 Tier II cities was released on Monday by the data analytics company PropEquity, which is a division of the publicly traded P E Analytics Ltd.

During the July–September quarter of 2024, sales in the top 30 tier–II cities decreased by 13%, while new launches saw a 34% decline.

Compared to 47,985 units during the same period last year, housing sales decreased to 41,871 units in the third quarter of the 2024 calendar year.

Launches (new supply) decreased from 43,748 units over the same period previous year to 28,980 units in the July–September quarter of 2024.

72% of the total sales came from the west zone, which includes Ahmedabad, Vadodara, Gandhinagar, Surat, Goa, Nashik, and Nagpur.

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