Housing sales expected to decline by 18% across top 9 cities: PropEquity

• Housing sales have reportedly declined by 18% year-on-year during the July-September quarter.
• The report from data analytics firm PropEquity covers nine major cities across the country.
• The housing sales stood at 1,04,393 units, down from 1,26,848 units during the same period last year.

Housing sales are estimated to decline 18% during July-September quarter across nine major cities to 1,04,393 units on high base, according to PropEquity data. Real estate data analytic firm PropEquity on Friday released the data for housing sales across nine major cities.

Sales stood at 1,26,848 units in the same period last year. As per the data, the housing sales are estimated to rise only in Delhi NCR (22%) and Navi Mumbai (4%) during July-September period of this year.

Sales are likely to decline in other seven cities with Hyderabad recording the highest fall.


"The demand for real estate continues to be robust as even in this quarter the sales are higher than the new launches and such marginal drops in this quarter is a historic trend and not symptomatic of any adverse situation," Samir Jasuja, CEO & Founder, PropEquity said.

"In Hyderabad and Navi Mumbai, the majority of new real estate launches are in plots rather than apartments, indicating a decline in supply and absorption of apartments in these cities," Jasuja added.

Housing sales in Delhi-NCR are estimated to rise 22% to 10,263 units from 8,411 units.

In Hyderabad, the sales of residential properties are estimated to decline 42% to 12,082 units from 20,658 units. Kolkata could see a 23% fall in sales to 3,590 units from 4,634 units.

In Bengaluru, housing sales could fall 26% to 13,355 units during July-September, from 17,978 units in the year-ago period. Housing sales in Chennai might fall 18% to 4,634 units from 5,628 units.

Housing sales in Mumbai are estimated to fall 17% to 10,966 units from 13,167 units. Navi Mumbai is likely to witness a 4% increase in sales to 7,737 units from 7,416 units. In Pune, the sales are likely to dip 19% to 21,306 units from 26,154 units.

Thane in Mumbai Metropolitan Region (MMR) could see a fall of 10% in housing demand to 20,460 units during July-September period this year, from 22,802 units in the corresponding period of the previous year.

With inputs from PTI.

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