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.
The report presents an analysis of the residential market across seven cities.
Housing Sales
In Southern Region
Cities | Housing sales drop (2019) | Rise in housing sales(2019) | Recorded Sale of Units (2019) |
Hyderabad | 4 percent | – | 13,110 units |
Bengaluru | 8 percent | – | 39,250 units |
Chennai | – | Sales 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
Cities | Unsold 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 |