Tier II Cities Housing Market Overview
Tier II cities in India saw a 4% increase in the value of housing sales, reaching ₹37,409 crore in the second quarter (Q2), even though there was a decline in the number of housing units sold and new launches.
Market Dynamics
- Despite fewer transactions, the overall sales value rose, indicating that higher-value properties or price increases contributed to this growth.
- Gujarat stood out as a notable contributor within these Tier II cities, supporting the upward trend in sales value.
Author's Summary
The housing market in Tier II cities demonstrates growing financial strength through rising sales value, despite fewer properties being sold or launched.
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