Real Estate

Real estate sales to go up by 9-12% this festive season

Our Bureau Bengaluru | Updated on November 13, 2018 Published on November 13, 2018

The first half of 2018 was significant in terms of sales velocity for the residential sector. File Photo   -  The Hindu

The real estate sales expected to go up by 9-12 per cent in Q4, 2018 (Festive season quarter) as against Q3, 2018.

“However, the ongoing liquidity crisis in Indian real estate could, to some extent, play spoilsport for developers this festive season,” said Anuj Puri, Chairman – Anarock Property Consultants.

According to Puri it is still too early to provide hard numbers of 2018 festive season’s property sales as it is yet to conclude. Also, sales numbers are usually collated by the end of fourth quarter.

“However, trends in recent years suggest that entire fourth quarter of the calendar year is seen as an auspicious time wherein housing sales rise. Considering the quarter on quarter (q-o-q) trends in 2018, sales numbers have increased across the major cities,” explained Puri

He further said for instance, housing sales in Q3 2018 increased by 9 per cent as against the preceding quarter. In comparison to Q3 2017, sales increased by 15 per cent in a year across the top seven cities. While sales numbers have been increasing q-o-q, there is no significant change noted in the number of inquiries seen during this festive season so far.

“This, however, varies from city to city. For instance, in Bengaluru, Diwali is usually the time when site visits and inquiries see a dip as most people living there are migrants who return to their home-town to celebrate the festival with their families,” said Puri.

Published on November 13, 2018
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