India, Jan. 15 -- Mumbai's real estate market saw a sharp cooling in 2025, with new housing launches falling to a five-year low even as the city continued to add tens of thousands of homes. Around 42,643 new units were launched during the year, a steep 40% decline from nearly 70,892 units in 2024.

Project registrations also dropped to their lowest level in five years. In 2025, 689 new projects were registered with the Maharashtra Real Estate Regulatory Authority (MahaRERA), marking a 5% decline, according to MahaRERA data.

According to the data, almost 57% of the total units launched in 2025 were 1 BHK and 2 BHK apartments. However, the launches of 2.5, 3, 3.5, and 4 BHK apartments have also remained steady over the last five years.

Ac...