COVID-19 second wave hits housing demand, sales drop by 58% in June quarter: PropEquity businesstoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstoday.in Daily Mail and Mail on Sunday newspapers.
Home sales rose 23 per cent across top seven cities in the country during the first five months of 2021. However, Calcutta witnessed a decline of 11 per cent during the same period, a report released by PropEquity showed.
The research and analytics firm said home sales in Calcutta declined to 4,673 units between January and April 2021 from 5,267 units a year ago. One of the reasons behind this fall was that launches fell by 28 per cent to 2,391 units against 3339 last year.
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Apart from Calcutta, the National Capital Region also saw a slump of 20 per cent as it faced a major brunt of the second Covid-19 wave.
Sale of large sized housing units (3 BHK and above) rose by 19 per cent across top seven cities in India in the first quarter of 2021 to 30,169 units, according to data from PropEquity.During the same period last year a total of 25,307 large .
Many of the working population in India are now looking to get larger homes as Work from Home (WFH) is still a recommended suggestion by the central and state governments to follow for corporates.
Home sales up 21 per cent in Q1 2021 but new launches down by 40%: Report
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Home sales up 21 per cent in Q1 2021 but new launches down by 40%: ReportBy
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Synopsis
According to a report by real estate data analytic firm PropEquity, Bengaluru, Chennai, Hyderabad, MMR, NCR and Pune are the cities where home sales witnessed a growth in Q1 2021 versus Q1 2020 at 13%, 29%, 16%, 26% and 6% respectively. Only Kolkata witnessed a downfall of 20% in home sales during the same period.
India’s IT capital Bengaluru saw a rise of 13% in home sales in Q1 2021 at 12,263. New launches decreased by 40% at 8,492 units, according to the report.