Pune sees housing sales jump 147% in Q4

New Delhi: Pune saw the sharpest revival in sales of residential property in fourth quarter (Q4) of the current calendar year among the top cities in the country. Sales jumped 147 percent at 3,323 units in Q4 as compared to immediately preceding quarter (Q3) when the city had witnessed sales of just 1,344 homes. 

Another promising market, Hyderabad, saw the sales of houses jump 68 percent at 3,570 units in Q4 as against 2,122 units in Q3.

The housing sales in the country is witnessing fair amount of acceleration and recovery from the lockdown period. Sales jumped as much as 51 percent in Q4 as against Q3 2020, according to a report by property consultant JLL.

However, it was Mumbai which was the biggest contributor to housing sales, accounting for around 23 percent of the total sales 21,832 homes in Q4 in the top seven cities of the country. A total of 14,415 units were sold in Q3.  

“During the third quarter of ongoing calendar year, the residential market showed initial signs of recovery with sales increasing by 34 percent on a sequential basis. The fourth quarter has witnessed a 51 percent improvement in residential sales which has been evenly spread among top seven cities,” Ramesh Nair, CEO and Country Head, India, JLL, said.

Pune saw sales of 9,246 units in 2020 calendar year, down by 51 percent as compared to 2019 when the figures were at 18,887 units.

Hyderabad witnessed sales of 9,926 homes in 2020, down by 38 percent as against 2019 when the figures stood at 16,025 units. 

Mumbai saw sales of 19,545 houses in 2020, down by 39 percent as compared to 2019 when the figures were at 32,138 units.