For a quarter-century, Sunil Agrawal and Associates (SAA) has stood as a beacon of innovation and excellence in the real estate sector. This legacy of 25 years has been marked by our unwavering commitment to developers, homebuyers, and investors. Just as every year, we are thrilled to present the Quarter 1, 2023 Residential Market Update Report – a testament to our journey and a roadmap for the evolving landscape.
Key Insights from the Q1 2023 Residential Market Update:
Our Quarter 1, 2023 Residential Market Update Report is a treasure trove of insights, revealing the pulse of Indore's real estate landscape. These discoveries offer a strategic perspective for developers, investors, and homebuyers alike:
1. Balanced Supply and Absorption Rate:
The Q1 2023 Report brings good tidings – the supply and absorption rate in Indore achieved an average of 95.75%. This harmonious balance underscores a healthy demand for housing, shaping an optimistic outlook for the future.
2. Elevated Sales and Growing Interest:
In the first quarter of 2023, the total sales of residential projects in Indore soared by 20% compared to the previous quarter. This growth signifies an escalating interest in purchasing homes within the city, fostering a thriving real estate environment.
3. Reduced Inventory Overhang:
A positive trend unfolds as the inventory overhang in Indore decreased by 4 months in Q1 2023. This reduction reflects a well-adjusted market, translating into favorable conditions for pricing stability and strategic decision-making.
4. A Vibrant Apartment Market:
The report unveils remarkable trends in the apartment segment. The supply of apartments surged by 30%, paralleled by a 20% boost in demand. This synergy underscores a balanced market with healthy demand, promising a rewarding landscape for realtors and home seekers.
5. Row Houses/Villas: An Emerging Trend:
Q1 2023 witnessed a 50% increase in the supply of row houses, accompanied by a 20% increase in demand. While the market remains unbalanced to some extent, the growing demand signals opportunities for both buyers and developers.
6. Promising Plot Market:
The cumulative supply and absorption trend for plots indicate a balanced market, with a 20% increase in both supply and demand during Q1 2023. This equilibrium signifies a dynamic opportunity for those seeking to invest in plots.
7. Inventory and Price Dynamics:
A significant reduction of 30% in unsold inventory and a 4-month decrease in inventory overhang stand as positive indicators. This shift can be attributed to the robust economy, low interest rates, and the government's focus on affordable housing.
8. Premium Housing Demand:
The Quarter 1 report discloses a remarkable 80% increase in demand for homes within the 1.0-1.5 crore budget range. This surge is attributed to evolving preferences and the aspiration for premium housing options.
9. Growing Interest in 4 BHK Homes:
Demand for 4 BHK homes surged by an impressive 70% in Q1 2023, reinforcing the preference for larger living spaces. This trend showcases the market's responsiveness to evolving lifestyles and preferences.
As SAA's legacy continues to flourish, our Quarter 1, 2023 Residential Market Update Report echoes our commitment to excellence. A quarter-century of expertise and service culminates in this comprehensive report, poised to empower you with strategic insights and shape your real estate endeavors. We invite you to harness these discoveries and partner with us in transforming aspirations into realities.
Access the Complete Report:
The complete Quarter 1, 2023 Residential Market Update Report is available for your exploration.
Access it here: https://www.saa.one/research-reports/download-residential-report-q1-2023/
Thank you for being part of our remarkable journey.
Sunil Agrawal and Associates (SAA)