Residential sales in south records 5% drop in 2019

HYDERABAD: Housing sales in the southern cities of Hyderabad, Bengaluru and Chennai collectively recorded five per cent drop, said ANAROCK’s recent research report.
Unlike earlier, according to the report , the three southern cities saw slump in the residential property market between January and September to 61,400 units as against 64,420 units sold in the corresponding period in 2018 On the contrary, the western counterparts – MMR (Mumbai Metropolitan Region) and Pune – together see their sales jump up by 33 percent( 93,930 units in 2019 against 70,740 units) during the same period.  The report presents an analysis of the residential market across seven cities.
Housing Sales In Southern Region Cities Housing sales drop (2019) Rise in housing sales(2019) Recorded Sale of Units (2019) Hyderabad 4 percent – 13,110 units Bengaluru 8 percent – 39,250 units Chennai – Sales rise by 12 percent 9,040 units In Western Region Cities Rise in housing sales(2019) Recorded Sale of Units (2019) MMR  35 percent  62,550 units Pune  28 percent   31,380 units  In terms of new supply,  both Hyderabad and Chennai recorded yearly drop of 17 percent and 19 percent respectively.
Interestingly, despite the dull performance in terms of residential sales and restricted new supply, the south region shed unsold stock by 11 percent.