However, Q4 2020 recorded strong growth in the residential segment – heralding housing market revival in 2021
In 2020, the top 7 cities saw sales decline by 47% from approx. 2.61 lakh units in 2019; MMR sales highest at 44,320 units this year
New launches fell by 46% in 2020 from approx. 2.37 lakh units in 2019; Hyderabad the only city to see new supply increase by 42% this year
Unsold inventory saw 2% yearly decline; maximum drop in Kolkata (8%), MMR & Bengaluru (6% each)
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Meanwhile, Q4 signals positive growth trends – top 7 cities saw housing sales of 50,900 units in Q4 2020 against 59,160 units in Q4 2019, rebounding to 87%; MMR & Pune together comprised a 53% share
Approx. 52,820 units were launched in Q4 2020 compared to 51,850 units last year; Hyderabad topped new supply with launch of 12,820 units
Mid-segment new supply (priced INR 40 lakh – INR 80 lakh) rose 39% in Q4 2020 against same period in 2019; affordable supply reduced 39%
ANAROCK‘s year-end data indicates that the top 7 cities saw total home sales of over 1.38 lakh units in 2020 against approx. 2.61 lakh units in 2019 – a decline of 47%. Further, new housing supply in 2020 declined by 46% against the preceding year – from approx. 2.37 lakh units in 2019 to approx. 1.28 lakh units in 2020. MMR and Pune were the showstoppers in overall residential activity in 2020.
While residential real estate bottomed out in 2020 against the previous peak of 2014, there are strong revival signs in Q4 2020 – with home affordability being at its all-time best. Amidst varied offers and discounts, the top 7 cities saw robust sales of approx. 50,900 units in Q4 2020, rebounding to almost 86% of the c