- New housing supply estimated at 1,93,600 units by 2018 end; an annual increase of 32%
- Housing sales in 2018 estimated at 2,45,500 units; an annual increase of 16%
- NBFC crisis holds sector at gunpoint as 2019 begins
Anuj Puri, Chairman – ANAROCK Property Consultants
The year 2018 was a veritable roller-coaster ride for Indian real estate. Despite signs of recovery across segments, the liquidity crunch – further exacerbated by the NBFC crisis – put all industry stakeholders on tenterhooks.
Consolidation via mergers and acquisitions was rife in all sectors, completely redefining the concept of ‘financial health’ among players and drawing clear lines on who will survive the heat. This process will continue throughout 2019, as well.
Despite all odds, economic indicators remained positive with India’s GDP growth rate pegged at 7.3% in 2018. CPI inflation, a major concern in the past, remained reined in at a manageable 4.8%.
GDP growth and contained inflation are generally considered panacea for most real estate woes. However, it took a lot more than that for real estate to retain even a semblance of an even keel in 2018.