Real Estate

Residential sales plummets 22 per cent in H2 2019: Anarock

Anil Urs Bengaluru | Updated on December 26, 2019 Published on December 26, 2019

Of the total 2.61 lakh housing sales seen in 2019 across the top seven cities, on half-yearly comparison, residential sales in second half (H2) 2019 plummeted 22 per cent against first-half (H1) 2019 while on yearly basis there was a marginal rise of 5 per cent in entire 2019 compared to 2018.

On the supply front, of the total 2.37 lakh units launched in 2019, H2 saw new addition of over 97,000 units as against 1.4 lakh units in the first-half, thus seeing a half-yearly decline of 30 per cent. However, on yearly basis, there was a 21 per cent rise in new supply in 2019 over 2018.

“The unrelenting liquidity crisis, lower-than-expected buyer sentiments and faltering GDP growth eventually put brakes on the overall housing growth in the second-half of 2019. However, among the top cities, MMR and Pune were clearly the showstoppers of residential real estate in 2019 as they recorded housing sales rise of 22 per cent and 18 per cent respectively, leaving Bengaluru (which saw sales fall 12 per cent yearly) far behind,” said Anuj Puri, Chairman – Anarock Property Consultants.

He added “Both top cities collectively saw residential sales of nearly 1.22 lakh units as against 78,860 units in all south cities (Bengaluru, Chennai and Hyderabad) and 46,920 units in NCR in the north. In terms of new launch supply too, MMR and Pune came out on top in 2019 with annual increases of 30 per cent and 89 per cent respectively. Among the top seven cities, MMR saw maximum new launches during the year at 78,000 units while Pune was second best at over 46,100 units.”

New launch overview 2019 vs 2018

The top seven cities recorded new unit launches of about 2,36,560 units in 2019 as against 1,95,300 units back in 2018. The key cities contributing to 2019 new unit launches included MMR (Mumbai Metropolitan Region), Pune, NCR, and Bengaluru, altogether accounting for 84 per cent of addition.

About 77,990 units were launched in MMR – a significant rise of over 30 per cent from 2018. Approx 66 per cent new supply were added in sub Rs 80 lakhs budget segment. Bengaluru added approx 39,930 units in 2019, a yearly increase of 14 per cent over 2018. Approx 30 per cent new supply was added in the affordable segment.

NCR added new supply of 35,280 units in 2019 compared to 26,010 units in 2018 - a significant rise of 36 per cent. Approx. 47 per cent new supply was added in affordable segment.

Pune added 46,100 units in 2019, a massive jump of 89 per cent over 2018. Approx. 89 per cent new supply was added in sub Rs 80 lakhs budget segment, out of which 44 per cent comprised of affordable units.

Hyderabad added approx 14,840 units in 2019, a decrease of 14 per cent over 2018. Approx. 47 per cent new supply was added in sub Rs 80 lakhs budget segment.

Chennai added approx 13,000 units in 2019, a yearly decrease of 17 per cent over 2018. Approx. 39 per cent new supply was added in affordable segment.

Kolkata added approx 9,420 units in 2019, a significant decrease of 45 per cent over 2018. Approx 50 per cent new supply was added in the affordable segment.

Published on December 26, 2019
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.