Housing Sales Dip as New Supply Stalls Amid West Asia Tensions

Housing sales across nine major Indian cities fell by 13% in the January-March quarter. PropEquity cites reduced new inventory supply amid West Asia conflict as a key factor. Bengaluru and Delhi-NCR remain strong markets, while other cities like Mumbai and Pune see significant declines.

In a recent report, PropEquity highlighted a 13% decline in housing sales across nine major Indian cities during the January-March quarter. Factors such as tensions in West Asia and reduced new supply contributed to this downturn.

Industry experts identified cities like Bengaluru and Delhi-NCR as exceptions, showcasing growth amid the broader decline. Bengaluru, in particular, saw a 3% rise in sales, attributed to its expanding tech ecosystem and sustained demand.

Conversely, cities like Mumbai and Pune witnessed significant decreases. The report sheds light on the challenges facing India's real estate sector due to geopolitics and supply chain disruptions.

(With inputs from agencies.)