Housing sales in India’s top 15 tier-II cities grew by 20% in value in 2024, reaching ₹1,52,552 crore (US$ 17.56 billion), driven by higher demand and price appreciation.
While Bhubaneswar saw the highest value growth at 47%, some cities like Nashik experienced a 2% drop.
Ahmedabad led in sales value, reaching ₹49,421 crore (US$ 5.69 billion), a 17% increase from 2023.
The total number of units sold across these cities grew by 4% to 1,78,771 in 2024. Coimbatore recorded the highest sales volume growth at 36%.
In contrast, Visakhapatnam's real estate market faced a severe downturn, with a 21% decline in sales—the highest among all cities.
This sharp fall signals a troubling trend for the city’s housing sector, raising concerns about its future prospects. If this continues, Visakhapatnam may struggle to regain investor confidence.
