Housing sales and new launches have plunged to a new low across India’s top 7 cities in Q2 2020. Latest ANAROCK research reveals that residential sales in the quarter plummeted by 81% on a yearly basis in these cities – from 68,600 units in Q2 2019 to just 12,720 units in Q2 2020.
It’s all very well to exhort developers to cut their prices to push sales, but this is still a very incomplete narrative presenting only half of the story.
Homeownership is now a compelling priority for millennials facing uncertain times. Out of the total voters favouring real estate, 55% are aged between 25-35 years - and 68% are end-users. In the H2 2019 edition of this survey, only 42% were in this age bracket.
While housing sales in India recorded a decline in Q2 FY20, the housing sales value of India’s top 9 listed developers stayed on course during the quarter.