Kol housing sales drop 31% in Q1 2025 amid national dip
Times of India | 28 March 2025
123 Kolkata: Housing sales in Kolkata declined by 31% in Jan-March 2025 compared to the corresponding period in 2024, mirroring the trend visible in all major cities across the country.
According to Anarock Research, which released the first quarter residential real estate data of the top seven cities in India, around 3,900 units were sold in Kolkata during the first three months of 2025, down from 5,650 units in the first quarter of 2024.
A year prior to that, in Jan-March 2023, the city witnessed the highest ever sales of 6,190 units in a given quarter. Overall, 2023 was the best year for the Kolkata residential market in terms of housing sales, with each quarter witnessing sales of more than 5,500 units.
Compared to the pre-Covid period, housing sales in the first quarter of 2025 declined by 3% compared to Jan-March 2019, when 4,020 units were sold in the city.
This, despite a 26% increase in supply in the first three months of 2025, with 5,400 units being launched compared to 2024 when 4,290 units were added. Around 60% of the new supply was in the affordable and mid segments, priced up to Rs 80 lakh.
Confederation of Real Estate Association of India (CREDAI) West Bengal president Sushil Mohta said a volatile stock market led to the decline in sales. "Buyers' decisions got influenced by the global economic downturn. After all, buying a house is one of the most important decisions in life," he said, adding that though sales have dipped, developers are quite upbeat about the future growth of the market, especially in emerging areas.
Anarock Group chairman Anuj Puri said that skyrocketing residential prices coupled with geopolitical headwinds were responsible for slowing the Indian housing market's bull run in Q1 2025.
Nationally, sales dropped 28% across the top seven cities in Jan-March 2025 compared to the same period in 2024. Around 93,280 units were sold in Q1 2025 in these cities, in contrast to all-time high sales of over 1.3 lakh units in Q1 2024.
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