Housing sales jump 65% in Q3
Mumbai: Residential sales in the third quarter (Q3) of the current calendar year jumped 65 percent as compared to the same period of 2020. The total sales of homes stood at 32,358 units in Q3 as against just 14,415 houses in Q3 of 2020, according to a study by JLL.
“Developers have already started launching optimal sized apartments to capture changing consumer preference across most of the cities. Indian residential sector is expected to witness sustained growth in the coming quarters. The renewed buyer’s confidence has been instrumental in the recovery of the housing market in Q3 2021, which recorded good volume of sales and launches as compared to the same period last year and almost inching towards the pre-covid era. Sales of more than 32,300 residential units were recorded in Q3 2021 against 19,635 units in Q2 2021, a significant increase of 65% Q-o-Q,” said Siva Krishnan, Head - Residential, India, JLL.
“Sales volume during the quarter surpassed the sale volume recorded in the pre-Covid period of Q1 2020 by 18%. At the same time, it is encouraging to note that the sales volume during the quarter is inching closer to the average quarterly volume of sales recorded in the pre-covid era of 2019, which stood at about 35,000 units. This certainly indicates that the market sentiments are improving compared to the previous year and bringing back buyer’s confidence in the market. Further reduction in home loan rates coupled with the festive season and improved market sentiments augurs well for the residential sector,” said Dr. Samantak Das, Chief Economist and Head Research & REIS, India, JLL.