New Delhi: Demand in the real estate sector plunged in the second half of 2019 as housing sales fell around 22 % in July-December compared to the total sales first six months, a report by Anarock Property Consultants said on Wednesday.
It said that out of the total 2.61 lakh units sold during the year so far in seven major cities, around 1.47 lakh flats were sold in the January-June period, and the remaining 1.14 lakh had been so far sold in the second half.
This slump in sales comes despite the slew of measures announced by the government in the past few months to ease liquidity and boost demand.
However, as per the report, with improved sales during the first six months, overall sales rose marginally by 5 %. Anuj Puri, Chairman of Anarock Property Consultants said in a statement:
"The unrelenting liquidity crisis, lower-than-expected buyer sentiments and faltering GDP growth eventually put brakes on the overall housing growth in the second half of 2019."
He said that, the Mumbai Metropolitan Region (MMR)and Pune were the "showstoppers" of residential real estate in 2019 as they recorded housing sales rise of 22 % and 18 % respectively.
