20 percent decrease in Hyderabad
Disclosed in PropEquity report
After the coronavirus pandemic, there has been a decrease in house sales in major cities in the country. Real estate data analysis firm PropEquity reported that nationwide, there is a 2% decrease in house sales from April to June quarter. Particularly in the Hyderabad market, house sales have decreased by 20%, limiting it to 15,016 units. In the previous quarter, 18,757 units were sold, indicating a decline in sales figures. Pune also saw a decline of 15% in house sales from the previous quarter, reducing to 22,482 units.
In June quarter, house sales across the country’s twelve major cities were reportedly at 1,19,901 units, which is slightly lower compared to the previous quarter’s 1,21,856 units. During January-March this year, these twelve cities had seen house sales amounting to 1,46,194 units, indicating an 18% decrease in sales during the June quarter. Looking at specific cities during June quarter, Delhi witnessed sales of 10,198 units according to PropTiger, which is 6% higher than the previous quarter’s figures of 9,635 units. Bangalore saw sales of 15,127 units in June quarter, with the potential for 15,088 units to be sold during the same period this year. In Chennai, there were 4,950 house sales in the June quarter, with expectations of 4,841 units being sold in the current period.
In Kolkata, sales have increased by 25% from 4,025 units to potentially 5,130 units. Mumbai might see restrictions on house sales up to 13,032 units, while in the same period last year, 13,219 units were sold. New Mumbai has reported a growth of 36% in house sales, potentially reaching 9,035 units. Thane has experienced a 9% increase in house sales, potentially reaching 25,041 units, according to PropTiger data.
