Housing Sales Almost Flat In Q3 of 2019: JLL

New Delhi: The sales of homes in the country declined one percent in the third quarter (Q3) of the current calendar year as compared to same period of last year in the top seven cities of the country. The sale of residential units stood at 36,825 in Q3 of the current year as against 37,324 in the same period of 2018, according to a report by property consultant JLL.

New launches during Q3 of the current year stood at 37,544 units, a drop of four percent than last year’s figure of 39,133 units in the corresponding period.  

However, the first nine of the current calendar year saw residential sales go up by 14 percent as compared to corresponding period of the previous year.  

The unsold inventory remained almost the same. The unsold inventory level in the first nine months of 2019 stood at 4,44,673 units as against 4,46,117 units in the same period of 2018.

“While banks are yet to fully transmit the rate cuts by a corresponding reduction in lending rates, this has strengthened consumer sentiment. We hope that developers will be able to register good sales during the festive season,” said Ramesh Nair, CEO & Country Head, JLL India.