Housing sales in Delhi-NCR up 50% in April-June: Report

Housing properties have become very affordable because of historically low interest rates on home loans and fairly stable property prices over the last 5-6 years

1 min read . Updated: 13 Jul 2021, 04:15 PM IST Livemint

The sales across the top eight cities declined by 16% to 15,968 units in the April-June quarter

NEW DELHI: Delhi-NCR witnessed a 50% surge in housing sales in the April-June quarter, as per a report by the property brokerage firm PropTiger.com. Amidst the second wave of covid, 2,828 units were sold in the quarter against 1,886 units in the year ago period.

However, when compared to the January-March quarter, the sales were 54% lower in the region, as per the report. New supply also declined by 59% in the April-June quarter.

Sales across the top eight cities comprising Delhi NCR, Ahmedabad, Hyderabad, Mumbai Metropolitan Region (MMR), Pune, Bengaluru, Kolkata and Chennai covered under the report, declined by 16% to 15,968 units in the April-June quarter. Last year, 19,038 units were sold during the same period. On a sequential basis, sales declined by 76%.

Mani Rangarajan, group COO, Housing.com, Makaan.com and PropTiger.com, said "Housing properties have become very affordable because of historically low interest rates on home loans and fairly stable property prices over the last 5-6 years. Moreover, the covid-19 pandemic has made us realise how important it is to own a house and that too of a certain size conducive for remote work. These factors have kept the housing market resilient in the midst of an unprecedented global health crisis."

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