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Housing Sales In Southern Cities Higher Than North And West India In 2018: Anarock

Courtesy/By: Sakshi Shukla | 12 Feb 2019

Housing demand and supply were higher in Bengaluru, Chennai and Hyderabad as compared to sales and new launches in the north and west regions, property consultant Anarock said.

According to a report, housing sales in the main southern cities collectively rose by 20 per cent as against 18 per cent rise in the north and 15 per cent in the west.

Anarock also found out that the collective unsold stock in these southern cities is a mere 19 per cent of the total 6.73 lakh unsold units across the top seven cities. NCR alone has nearly 28 per cent of the total unsold stock.

“This clearly indicates that the housing markets in the southern cities are exceptionally resilient, and were quick to recover from the overall slowdown in the Indian real estate sector,” said Santhosh Kumar, Vice Chairman of Anarock Property Consultants.

“Year 2018 was a mixed bag of highs and lows for the Indian real estate sector. The initial pangs of policy alterations seemed to fade away with each region seeing visible signs of recovery across segments,” Kumar said.

Not only housing, Anarock said the retail and office segments of the real estate sector also increased activities in southern cities.

Courtesy/By: Sakshi Shukla | 12 Feb 2019