Property Prices Surge By 23% In Q3 2024

 

Introduction

Average Prices Rise 23% in 7 Cities

The Indian real estate market experienced a sharp rise in property prices during the July-September quarter of 2024, leading to a significant impact on housing sales across the top seven cities. According to a report by property consultancy Anarock, average residential prices increased by 23 per cent year-on-year, pushing many potential buyers to reconsider their purchases.



Housing Affordability Declines Amid Price Hike

The surge in prices, which saw a jump from Rs 6,800 per square foot in Q3 2023 to Rs 8,390 per square foot in Q3 2024, has strained housing affordability across cities like Hyderabad, where prices rose by 32 per cent.This sharp increase, driven by escalating input costs and high demand, contributed to an 11 per cent decline in housing sales during the same period, with only 1,07,060 units sold compared to 1,20,290 units in the previous year.................Read More

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