Housing Sales Hit 17-Quarter Low in Q4 2025; Festive Boost Fails

• India's housing sales dropped 16% YoY to 98,019 units in Q4 2025, marking a 17-quarter low since Q3 2021, despite the festive season.
• Sales declined 2% QoQ; Pune, Thane, Mumbai saw steepest falls (31%, 26%, 25% YoY respectively), while Navi Mumbai and Delhi-NCR grew.
• New housing launches also fell 10% YoY to 88,427 units in Q4 2025 and 4% QoQ, reflecting developer caution.
• Delhi-NCR, Navi Mumbai, and Chennai were exceptions with growth in new supply, while other major cities saw declines.
• PropEquity's Samir Jasuja attributes the slowdown to a "structural shift" towards premiumisation, with higher value despite fewer units launched.

Why It Matters: India's housing market saw a significant slowdown in Q4 2025, with sales and new launches hitting multi-year lows.