Economy NewsBust: Housing sales drop 49 percent during January-June amid Covid | Housing sales down 49% in first half of 2020, 57,940 units sold from January to June

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  • 72% decline in sales in April-June as compared to January-March
  • Unsold inventory also decreased as sales exceeded new launches

Daily newspaper

Jun 30, 2020, 10:47 AM IST

new Delhi. The lockdown imposed due to the coronavirus epidemic has had an adverse impact on the sale of homes in the country's seven major cities. In the first six months of 2020, there has been a 49 per cent decrease in house sales compared to the first half of 2019. This is stated in the report by property consultant Enrock. According to the report, 57,940 units have been sold between 2020 and January to June.

Sales drop by 46 to 51 percent in major seven cities

Sales in the major seven cities of the country have fallen from 46 to 51 per cent. There was only 22 per cent of sales in the second quarter compared to the first half of 2020. Sales between April-June 2020 declined by 72% compared to January-March 2020. Whereas in the second quarter of 2020, there has been a decrease of 81 per cent in sales as compared to the second quarter of 2019.

56% drop in new launches

In comparison to 2019, there has been a decline in new launches so far this year. According to the report, new launches decreased by 56 percent between January – June 2020. The report said that the real estate sector was affected in a big way due to the nationwide lockdown in the last week of March. Due to this, the new launch was banned. The report noted that unsold inventory declined 2 percent in the first half of 2020. This decline in unsold inventory has been reported due to higher sales than new launches.

Survey conducted in these cities

  • National Capital Region (NCR)
  • Mumbai Metropolitan Region
  • Bengaluru
  • Pune
  • Hyderabad
  • Chennai
  • Kolkata

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