Housing sales drop 81%, new launches by 98%, in April - June, 2020

As per the latest report by property consultants ANAROCK, around 12,740 housing units were sold in Q2, 2020 against 68,600 units in Q2, 2019. on q-o-q basis. Sales dropped by 72 per cent from 45,200 units in Q1 2020. Housing sales and new launches have dipped to a record low across India's top 7 cities in Q2, 2020.

Story: Shivani Sharma
Design: Pragati Srivastava

NCR witnessed significantly lower sales as compared to previous year and the preceding quarter. Sales in NCR and MMR decreased by 83 per cent each in Q2, 2020 against Q2, 2019 and 74 per cent each over the previous quarter.

Mumbai Metropolitan Region, one of the most COVID-19-affected areas-witnessed maximum housing sales decline of nearly 3,620 units among all cities. Sales in MMR decreased by 83 per cent in Q2, 2020 against Q2, 2019. Current quarter sales were recorded at nearly 3,620 units.

In Q2, 2020, only four projects were launched - two in Bengaluru and one each in Pune and Kolkata. Pune added approx. 750 units (in only one project) in Q2, 2020 compared to 10,700 units in Q2, 2019 and 7,800 units in Q1, 2020 - a drop of 93 per cent and 90 per cent respectively.

Approx. 2,990 units were sold in Bengaluru in Q2, 2020, against 13,150 units a year ago and 8,630 units in the preceding quarter of Q1, 2020. The y-o-y decline was 77 per cent and q-o-q was 65 per cent. New launches account for just four projects - two in Bengaluru and one each in Pune and Kolkata.

Kolkata added only one project consisting of approx. 50 units in Q2, 2020, declining by 98 per cent on y-o-y basis and 95 per cent over Q1, 2020. Pune and Kolkata witnessed a 79 per cent yearly decline each, and an almost 70 per cent quarterly decrease each in Q2, 2020.

Sales in Hyderabad decreased by 85 per cent in a year - from 4,430 units in Q2, 2019 to 660 units in Q2, 2020. On a quarterly basis, sales declined by 75 per cent. The city saw sales of approx. 2,680 in Q1 2020.

Sales of residential property in Chennai decreased by 79 per cent Y-O-Y in the second quarter of CY20 whereas it declined by 100 per cent in launches of new projects and there were no launches in Q2 CY20.