COVID-19 impact: Housing sales dip 37%, office leasing declines 35% across 8 cities in 2020
In its 'India Real Estate - Residential and Office Update H2 2020' report released on Wednesday, the consultant reported that sales of residential properties fell 37 per cent to 1,54,534 units in 2020 across eight cities as compared with 2,45,861 units in the previous year
PTI | January 6, 2021 | Updated 20:16 IST
The gross office space absorption declined 35 per cent to 39.4 million sq ft from 60.6 million sq ft
Housing sales fell 37 per cent year-on-year during the 2020 calendar year while gross office space leasing declined 35 per cent on low demand because of the coronavirus pandemic, but demand improved significantly in the last quarter to cross pre-COVID level, property consultant Knight Frank India said on Wednesday. In its 'India Real Estate - Residential and Office Update H2 2020' report released on Wednesday, the consultant reported that sales of residential properties fell 37 per cent to 1,54,534 units in 2020 across eight cities as compared with 2,45,861 units in the previous year. Similarly, the gross office space absorption declined 35 per cent to 39.4 million sq ft from 60.6 million sq ft.