Monday 30 March 2020
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business-standard - 4 days ago

COVID-19 effect - Housing sales, new launches dip 42 per cent each in Q1 2020 - ANAROCK

As anticipated, the COVID-19 pandemic had a considerable impact on the Indian housing sector. Residential sales saw a 42 per cent y-o-y drop in the first quarter of 2020, reveals the latest data by ANAROCK.In Q1 2020, residential sales in the top seven cities stood at 45,200 units, against 78,510 units a year ago. On q-o-q basis, housing sales fell by 24 per cent.Meanwhile, new launches too fell by 42 per cent annually - from 70,480 units in Q1 2019 to approx. 41,200 in Q1 2020. Q-o-q supply also declined by approx 21 per cent. Yearly trends indicate that MMR and Pune recorded the maximum y-o-y drop of housing supply - by 61 per cent and 56 per cent respectively - while Chennai and Kolkata actually displayed positive trends with nearly 16 per cent and 8 per cent yearly rise. Given the ongoing global healthcare calamity, it s no surprise that housing sales and new project launches across India s top 7 cities decreased both on yearly and quarterly basis. As expected, monthly data trends

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