Housing sales plunge 50% in NCR during 2020; demand falls 37% across 8 major cities

Housing sales plunge 50% in NCR during 2020; demand falls 37% across 8 major cities

Housing sales in the national capital region (Delhi-NCR) plunged 50 per cent year-on-year during the 2020 calendar year to 21,234 units on low demand because of the COVID-19 pandemic, property consultant Knight Frank India said on Wednesday.

The sales of residential properties fell 37 per cent to 1,54,534 units in 2020 across eight major cities as compared with 2,45,861 units in the previous year, the consultant said in its ‘India Real Estate – Residential and Office Update H2 2020’ report.

Housing sales fell in all eight major cities, with demand falling most in Ahmedabad and least in Pune.

News Source: INDIANEXPRESS

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