Introduction
Thane, a significant area in the Mumbai metropolitan region, has seen a big drop in residential sales and supply during the second quarter of 2025. This trend matches the bigger issues facing the real estate market in India, especially in metro cities.
Key Trends in Q2 2025
- Sales Decline: Property sales in Thane went down by 34% compared to the previous year. This sharp decline mirrors the drop seen in Mumbai. Buyers are taking a cautious approach due to market uncertainties.
- Supply Reduction: The supply of new housing units in Thane also fell sharply, with a 58% drop. This indicates developers are taking a cautious stance due to inventory overhangs in certain markets.
Market Challenges and Opportunities
Despite these challenges, there is activity in the luxury segment, with developers focusing on high-end projects. However, the overall market remains slow due to economic factors and inventory buildups.
Regional Context
Other cities like Pune have also seen a drop in housing sales and supply, with a 27% drop in sales. In contrast, Delhi-NCR and Chennai have shown resilience with increases in sales and supply, going against the broader trend.
Conclusion
The drop in Thane's housing market shows that developers and policymakers need to tackle issues like inventory overhangs and economic uncertainties. While luxury segments attract investment and NRIs, a broader market recovery will depend on addressing these challenges.