Housing sales drop 49% across major cities in India

Impacted by the pandemic and the nationwide lockdown, housing sales across the seven major cities nearly halved during the first six months of 2020 compared to the second half of 2019, according to a report by Anarock Property Consultants. A total of 57,940 units were sold during January-June, the data showed. "Sales decreased by 49 per cent in H1 2020 compared to H2 2019 as every city underwent contraction. The contraction was in the range of 46 per cent to 51 per cent across the top seven cities of India," the report said. Sales in Q2 2020 accounted only for 22 per cent of H1 2020, which primarily led to an overall decline in half-yearly sales. Housing sales during April-June 2020 were 72 per cent lower than the previous quarter and nearly 81 per cent down from Q2 2019. (IANS)

Also Watch: Get Set Global: Assamese in UK coping with the Pandemic