Residential sales in south records 5% drop in 2019

HYDERABAD: Housing sales in the southern cities of Hyderabad, Bengaluru and Chennai collectively recorded five per cent drop, said ANAROCK’s recent research report.

Unlike earlier, according to the report, the three southern cities saw slump in the residential property market between January and September to 61,400 units as against 64,420 units sold in the corresponding period in 2018

On the contrary, the western counterparts – MMR (Mumbai Metropolitan Region) and Pune – together see their sales jump up by 33 percent( 93,930 units in 2019 against 70,740 units) during the same period. 

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The report presents an analysis of the residential market across seven cities.

Housing Sales

In Southern Region

CitiesHousing sales drop (2019)Rise in housing sales(2019) Recorded Sale of Units (2019)
Hyderabad4 percent 13,110 units
Bengaluru8 percent 39,250 units
ChennaiSales rise by 12 percent 9,040 units

In Western Region

Cities Rise in housing sales(2019) Recorded Sale of Units (2019)
MMR  35 percent  62,550 units
Pune  28 percent   31,380 units 

In terms of new supply,  both Hyderabad and Chennai recorded yearly drop of 17 percent and 19 percent respectively.

Interestingly, despite the dull performance in terms of residential sales and restricted new supply, the south region shed unsold stock by 11 percent.

Unsold Inventory

Southern Region

Cities Unsold stock (in %)Overall unsold stock (in Units) in 2019
Bengaluru  17 percent (Highest among 7 cities) 63,540 units
Hyderabad  12 percent (declined in 2018)  23,890 units
Chennai   4 percent (Increased) approx. 31,380 units

Western Region

CitiesUnsold stock (in %) Overall unsold stock (in Units) in 2019
Pune   2 percent (Increased)from 90,610 units in 2018 to nearly 92,560 units in 2019
MMR  1 percent reduction approximately 2.21 lakh units

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