Housing sales seen up 25% in 2018: PropTiger

Housing sales are estimated to have increased by 25% this year at 3.1 lakh units in nine major cities of the country, driven by improved demand especially for affordable homes, according to PropTiger.com

1.9 lakh – new units were launched in 2018

22% – drop over the previous year

7.5 lakh – properieties available for sale in nine citieis as of December

14% – drop in unsold inventory in 2018 over the previoyus fiscal

Why new launches fell

Developers have to strictly follow deadlines under the the new real estate law RERA

Liquidity crunch and unsold stocks also restricted new supply

1 lakh units – sold in Mumbai Metropolitan region in 2018, up 34% over previous yearly-round

47% – rise in sales in in Pune 2018 over the previous year.

29 – Months of inventory with developers as of December