India’s real estate sector continues to grow, with housing sales in the top 15 Tier-II cities witnessing a significant surge in 2024. According to real estate data analytics firm PropEquity, total housing sales rose by 4% to 1,78,771 units compared to 1,71,903 units in 2023. More notably, the total sales value jumped by 20% to Rs 1,52,552 crore from Rs 1,27,505 crore in the previous year, reflecting strong demand and rising property prices across key emerging cities.
Among the top-performing markets, Coimbatore recorded the highest increase in housing sales at 36%, showcasing growing buyer interest and increased investment in the city’s real estate sector. On the other hand, Visakhapatnam witnessed a 21% decline in housing sales, marking the sharpest drop among these cities. Despite fluctuations in unit sales, the overall market remains buoyant, driven by strong demand for residential properties in emerging urban centers.
In terms of sales value, Bhubaneswar outperformed other cities with a remarkable 47% growth, highlighting its increasing attractiveness for homebuyers and investors. Meanwhile, Nashik saw a marginal decline of 2% in sales value, indicating a slight slowdown in price appreciation. The strong overall performance of Tier-II cities suggests a shift in homebuyer preferences toward affordable and well-connected urban areas outside major metropolitan hubs.
The rise in housing sales and sales value in these key cities signals sustained confidence in India’s real estate market. With increasing infrastructure development and better job opportunities, Tier-II cities are becoming major real estate hotspots. As demand continues to grow, property prices are expected to rise, making these cities attractive investment destinations for homebuyers and investors alike.
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