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COVID-19 to Reduce Housing Sales by 25% in India
Housing sales to see 25-35% y-o-y fall in 2020; new launches by 25-30% Unsold housing inventory to remain stable, may even see 1-3% yearly reduction Construction delays could run into several months for well-funded projects, few years for others; 4.66 lakh units to be previously completed by 2020-end face high risk of delays Affordable housing target group most affected, limited income & unemployment fears to defer purchase decisions Indian office sector to see significant impact by COVID-19; besides demand-supply decline, key occupiers to re-look office space requirements Indian retail leasing & new mall completions to see 30-50% dip against previous growth estimates; revenue-sharing model to gain dominance Technology to gain significant precedence in Indian real estate from 2020 onwards
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Property Value: Should I Install Framed or Frameless Glass Pool Fencing?
Glass pool fences are one of the most popular styles of pool fencing on the market, and it’s easy to see why.
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RBI Makes Its COVID-19 Countering Move
RBI’s latest announcement of a massive repo rate cut of 75 bps coupled with three months moratorium of EMIs on all outstanding loans is the biggest move that India has so far made to counter the COVID-19 fallout.
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COVID-19 Effect: Housing Sales, New Launches Dip 42% Each in Q1 2020
Residential sales stood at 45,200 units in Q1 2020 against 78,510 units in Q1 2019 across top 7 cities; quarterly drop of 24% Nearly 41,200 new units launched in Q1 2020 against 70,480 units in Q1 2019; min. 21% q-o-q drop in new supply Hyderabad sees highest yearly drop of 50% in residential sales – from 5,400 units in Q1 2019 to approx. 2,680 units in Q1 2020; other cities witness similar declining trends For new launches, MMR & Pune record maximum y-o-y drop of 61% & 56% respectively; Chennai & Kolkata’s new launches increase by 16% & 8% respectively Despite the gloom, developers able to shed their unsold inventory by 3% y-o-y - from 6.65 lakh units in Q1 2019 to 6.44 lakh units in Q1 2020
- 4
5 Apartment Trends Developers Need to Look Out for in 2020
With huge apartment developments becoming the housing norm all over the world, an outside glimpse of the property now usually gives away nothing about the interior.
- 2
RBI Defers Rate Cut Announcement to Counter Covid-19
Amid the growing concerns over the economic impact of Covid-19, the RBI was expected to agilely tread along the lines of its western peers and announced an emergency rate cut to ease growing economic pressures and infuse liquidity into the system.
- 4
Indian Retail Reels Under Coronavirus Panic
Amid the rising number of coronavirus cases in India, the order of closure of malls and multiplexes across many top cities by the respective state governments to prevent people congregating for any reason, has caused the organized retail scene in these cities to come to a grinding halt.
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