Real Estate Industry Shows Steady Improvement As Sales Jump By 24%, Says Recent Study

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    Indian real estate may just be witnessing a turn around time. As per a recent report, there has been a 24% jump in real estate unit sales in the latest quarter (April-June 2018) compared to the previous three months.

    Considering the past few quarters, this is definitely a healthy turnaround of rising sales and declining inventory. The 24% jump comes on top of the 12% increase reported in the previous quarter (Jan-Mar) over the preceding three months (Oct-Dec), Anarock said in a report.

    As per the report, a total of 60,800 units are estimated to have been sold in the Apr-Jun quarter in the top seven cities of India, as compared to 49,200 units sold in the previous quarter and 43,800 in the three months before that.

    This trend has been steady in all the top cities except Chennai. Such positive reports will definitely lift the morale of the industry, which otherwise was witnessing a slump over the past couple of years.

    Not only there has been a considerable rise in sales, the total number of unsold units have also gone down. In fact, the total number of unsold units in India’s top seven cities fell to 700,000 at the end of June from 711,000 at the end of March and 770,000 at the end of December 2017.

    It is noteworthy here that the real estate sector has been in the grip of concerns over rising inventory levels as flats that were announced 2 or 3 years ago remained unsold for a long time.

    Now that inventory is slowly going down and sales on a rise, it is no wonder that the developers are gearing up to announce new projects.

    Another aspect that seems to be a good news for homebuyers is that prices in the market are not showing any real increase. The main reason for the steady price is the abundance of supply.

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