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Indian Real Estate Sector regains momentum, says report

Posted by BrickAcres on February 18, 2016
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The Indian real estate sector seems to have bounced back that sales
have risen in this quarter after ten quarters of decline, states a
report published by real estate advisor Prop Tigers.

According to the report, Indian real estate sector witnessed sales
of 53,000 units in the third quarter of the current fiscal compared
with around 49,000 units in the second quarter.

“While total launches increased against the previous quarter, new
launch sales within these grew much faster at 23 per cent as
compared with three per cent of old projects,” states the Realty
Decoded-Q3 FY16 report published by independent online real estate
advisor PropTiger.com.

Affordable housing segment (below Rs 50 lakh) continued to
be the hot pick in the sector with more than half of the sales of
apartments in this segment and this has been so even in the
previous quarters.

“The share, however, has declined over the past 10 quarters, from
a high of 58 per cent in the first quarter of FY14 to 52 per cent
in Q3 FY16,” adds the report.The PropTiger.com report had studied
the market trends based on launches, absorption, inventory and
prices, across India’s nine major cities.

Real estate’s grave concern of unsold inventory finally
seems to be declining, at least for new projects, with sales
in new launches rising by 23 per cent when compared with the
sales in existing projects, which grew by three per cent

Moreover, one of the remarkable changes was a decline in
inventory overhang in Q3FY16 by two months to reach 35 months
driven by rise in sales.

Unsold inventory
This is the first time inventory overhang has seen a decline in
the past 10 quarters. Mumbai, Bengaluru and Noida have the most
unsold inventory, accounting for almost 60 per cent of the total
unsold inventory across the key nine cities, the report
states.

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