Share of affordable homes -- priced up to Rs 45 lakh each -- in total housing sales more than halved to 22 per cent during January-March across top eight cities amid strong demand for luxury flats, according to PropTiger.
“Share of affordable homes in total housing sales stood at 48 per cent in the January-March period of 2023 calendar year.
“Housing brokerage firm PropTiger.Com data showed that housing sales grew by 41 per cent to 1,20,640 units during January-March 2024 across top eight cities from 85,840 units in the corresponding period of the previous year. “In the total sales of 1,20,640 units during January-March, the share of homes, priced less than Rs 25 lakh each, was 5 per cent.
“In the same period last year, the share of this low-cost housing category in total sales was 15 per cent. “The share of homes, priced Rs 25-45 lakh each, was 17 per cent during January-March 2024 as against 23 per cent share in the corresponding period of the previous year.
“"There has been a remarkable shift post the pandemic towards high-end properties," PropTiger said in its quarterly report 'Real Insight Residential January-March 2024'.
“The share of properties priced Rs 1 crore and above has increased to a significant 37 per cent in the first quarter of 2024, significantly higher than 24 per cent in the same period of 2023, the consultant observed.
