Stable Demand And Rising Rates In The Thane Real Estate Market For Q2 2023
Thane Real Estate Market For Q2 2023 : Overview Of The Thane Property Market
Thane Real Estate Market For Q2 2023 While housing demand was constant, Thane’s residential market saw an increase in average rates. For both homeowners and investors, Ghodbunder Road and Dombivali remained the most sought-after neighbourhoods.
Thane’s housing demand (searches) remained steady in Q2 2023. A 1.7% quarter-to-quarter increase was seen in the average property rate. Nevertheless, the supply fell by 9.2% QoQ. When compared to the previous quarter, the RM (ready to move) and UC (under construction) segments both experienced growth.
Property Market In Thane: Analysis Of Demand And Supply
The residential market in Thane continues to be dominate by Ghodbunder Road and Dombivali.
For both homeowners and investors, Ghodbunder Road and Dombivali remained the most sought-after neighbourhoods. Large gated projects, first-rate amenities, closeness to important job centres, and superb connectivity allowing easy access to other parts of the Mumbai Metropolitan Region (MMR) may all be attribute to this.
The following Areas Continued To Attract A Lot Of Consumer Interest
Kolshet
Hiranandani Estate
Key Points Include
43% of one-bedroom apartments are in demand, while 37% of two-bedroom apartments are. In contrast, the supply for 1- and 2-bedroom apartments is 39% and 43%, respectively. This shows that consumers prefer one-bedroom homes, while developers are more likely to provide two-bedroom homes.
All price ranges of real estate are in harmony in terms of supply and demand, with the inexpensive market standing out as the top option with a sizeable 44% share of both.
2021–2023 Thane Property Market Rate Analysis
The average property rate in Thane climbed by 10.7% in the following quarters after declining by up to 9.9% between Q2 2021 and Q3 2021.
Summary Of The Thane Real Estate Market For Q2 2023
The introduction of new projects has decreased as developers focus on selling unsold inventory. However, the demand and supply for properties in the city are anticipate to increase with the development of various transportation-related infrastructure projects in the area. Among the significant impending advancements are:
- New metro line
- Suburban railroad line linking Diva and Thane
- New waterway via Thane connecting Kalyan to the western suburbs
- A high-speed train between Mumbai and Ahmedabad may be stopped at Thane, as propose.
- Personal Rapid Transport System (PRTS) under consideration
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