Premiumisation impact: Demand surges but new launches decline in real estate, says Report
Nuvama.
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The report highlighted a sharp divergence between demand and supply trends, driven by a growing preference for premium properties across the country.
«Demand surges; launches fall… The ongoing premiumisation trend in India's property space implies that volume-value trends have diverged sharply» said the report
It highlighted that by volume, the supply and demand in the top seven cities dropped 53 per cent and 7 per cent year-on-year (YoY), respectively, in November.
The report stated that the premium and luxury housing segments have been driving the growth, pushing average property prices higher in major cities. The NCR saw a remarkable 44 per cent YoY surge in average prices, followed by Kolkata (37 per cent). In cities like MMR and Bengaluru, prices increased 14-17 per cent YoY, while other cities recorded a 6-9 per cent YoY rise.
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