Declining inventory, a healthy sign for residential realty

Notwithstanding steep decline in home sales during H1 2020 due to the Corona, realty holds promise as sales outstrip launches.

According to latest statistics, despite pandemic, 57940 housing units were sold in H1 across 7 top cities. And while home sales have declined by 49% in H1 2020, new launches registered 56% decline. This has helped to keep unsold inventory under check. Available statistics show that unsold inventory declined by 2% in H1, 2020, compared to H2, 2019. What is also encouraging for housing revival is that housing demand continues to be there for affordable housing. This is clearly evident from the launch figures of affordable and mid segment housing. In H1, 2020. Kolkata topped in launches with 87%, followed by Bengaluru(85%), Pune (82%) MMR(69%) and Chennai (59%).

Says Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global Group and Chairman, Assocham National Council on Real Estate, Housing & Urban Development, ” Amidst Covid-hit depressing scenarios, this is an encouraging development. As long as affordable housing stays resilient, realty revival hopes are very much intact.

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