While 58,914 units were sold during the three months, only 182,639 units were sold through all of 2020. Compared to the overall sales registered in 2019, the numbers achieved in 2020 show a 47% decline.
: Monday, January 11, 2021, 8:52 PM IST
Unsold housing stocks down 9pc in 2020 at 7.18 lakh units; builders may take 4yrs to exhaust
The housing brokerage firm, which is a part of News Corp and REA backed Elara Technologies, on Monday released its report Real Insight Q4 2020 , a quarterly analysis of India s eight prime residential markets.
Mumbai construction skyline
Unsold housing inventories fell 9 per cent across eight cities in 2020 at 7.18 lakh units on sharp decline in new launches, but builders will now take nearly four years to clear these stocks at current low sales velocity, according to PropTiger.
The housing brokerage firm, which is a part of News Corp and REA backed Elara Technologies, on Monday released its report Real Insight Q4 2020 , a quarterly analysis of India s eight prime residential markets.
Synopsis
DLF and Birla Estates have reported an uptick in the sales of independent floors, while developers of boutique apartments in south Delhi claim there is a shortage of such ready-to-move in accommodation.
Agencies
Another reason for the rising demand for independent floors by well-known builders is that they take care of the infrastructure and other amenities.
New Delhi: Demand for independent floors in south Delhi and Gurgaon has increased as high-end homebuyers look for large and standalone spaces after the Covid-19 pandemic changed buyer behaviour.
DLF and Birla Estates have reported an uptick in the sales of independent floors, while developers of boutique apartments in south Delhi claim there is a shortage of such ready-to-move in accommodation.
Developers hope interest rates, stagnant prices to push for housing sales in 2021
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Synopsis
Experts feel that the mid-segment housing may take 6-8 months of 2021 to bounce back to pre-COVID levels due to the reeling market.
Agencies
Demand in 2021 is likely to recover to 2019 levels and may even surpass it if there are no unforeseen negative events.
NEW DELHI: The reverse migration, which led to the emergence of heightened demand for homes in tier 2/3 cities, demand for bigger homes and green complex with healthcare facilities, are some of the positives from 2020, according to real estate developers.
Developers said that the overhang of subdued demand from last quarter of 2019 continued into 2020 and with the COVID-19 pandemic induced lockdown in March, the sector went from bad to worse.