Housing Sales Up 5%, New Supply Jumps 21% In 2019
New Delhi: The housing sales went up 5 percent in the top seven cities of the country in 2019 as compared to 2018. The total number of houses sold in 2019 stood at 2.61 lakh as compared to 2.48 lakh in 2018, according to ANAROCK Property Consultants.
As far as new supply of homes is concerned, there was a jump of 21 in the number of new houses added in 2019 as against 2018. The total number of new houses added in 2019 stood at 2.37 lakh as against 1.95 lakh units in 2018.
The supply of affordable houses jumped around 22 percent in 2019 as compared to 2018. The total number of affordable houses added in 2019 stood at 94,530 units.
The unsold houses declined 4 percent in 2019 as against 2018. There were a total of 6.48 lakh unsold homes at the end of 2019 as compared to 6.73 lakh houses at the end of 2018.
“Residential growth in 2020 will mainly depend on the swift on-ground implementation of some of the previously-announced sops including stressed funds (of INR 25,000 Crore). If not, it may negatively impact the sector with buyer sentiments derailing even further. And if done timely, these measures will yield positive impact on the Indian real estate in 2020,” said Anuj Puri, Chairman – ANAROCK Property Consultants.