Housing market stats in Dubai until now
Housing sales dropped 18 per cent year on year to 44,755 units in nine major cities during the September quarter on continued slowdown in the property market, according to PropTiger.com survey.
New launches of homes fell by 53 per cent to 22,115 units in the second quarter of the current fiscal year due to the implementation of new real estate law RERA. It said seven cities -Pune, Noida, Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad -witnessed decline in sales as well as launches, while only two cities, Mumbai and Gurugram saw rise in demand and supply.
The new RERA and goods and service tax (GST) regime impacted launches as well as sales in the second quarter of FY18. However, the sales had showed a marked improvement in September over July and August, driven by festival offers launched by most developers.
Ahmedabad saw the maximum fall in sales of 46 per cent to 2,222 units in the July-September quarter of 2017-18, over a year ago period. The decline in sales in Pune was 32 per cent to 7,214 units, followed by Noida 29 per cent to 3,606 units, Bengaluru 27 per cent to 6,976 units, Chennai 23 per cent to 2,945 units, Kolkata 21 per cent to 2,993 units and Hyderabad 18 per cent to 3,356 units. Housing sales in Gurugram rose by 60 per cent to 3,342 units. Mumbai saw 6 per cent rise in sales to 12,101 units during the second quarter of this fiscal year.
Supply addition dipped marginally by about 12 per cent q-o-q during Q3 2017, with about 7.2 million sq. ft. of development completions reported during the quarter. The top three cities, Mumbai, Delhi NCR and Bangalore accounted for almost 80 per cent of the supply addition; followed by Chennai and Hyderabad. In case of Delhi NCR, supply addition primarily took place due to the receipt of the delayed completion certificates. This resulted in a release of the pent-up supply
New launches of homes fell by 53 per cent to 22,115 units in the second quarter of the current fiscal year due to the implementation of new real estate law RERA. It said seven cities -Pune, Noida, Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad -witnessed decline in sales as well as launches, while only two cities, Mumbai and Gurugram saw rise in demand and supply.
The new RERA and goods and service tax (GST) regime impacted launches as well as sales in the second quarter of FY18. However, the sales had showed a marked improvement in September over July and August, driven by festival offers launched by most developers.
Ahmedabad saw the maximum fall in sales of 46 per cent to 2,222 units in the July-September quarter of 2017-18, over a year ago period. The decline in sales in Pune was 32 per cent to 7,214 units, followed by Noida 29 per cent to 3,606 units, Bengaluru 27 per cent to 6,976 units, Chennai 23 per cent to 2,945 units, Kolkata 21 per cent to 2,993 units and Hyderabad 18 per cent to 3,356 units. Housing sales in Gurugram rose by 60 per cent to 3,342 units. Mumbai saw 6 per cent rise in sales to 12,101 units during the second quarter of this fiscal year.
Supply addition dipped marginally by about 12 per cent q-o-q during Q3 2017, with about 7.2 million sq. ft. of development completions reported during the quarter. The top three cities, Mumbai, Delhi NCR and Bangalore accounted for almost 80 per cent of the supply addition; followed by Chennai and Hyderabad. In case of Delhi NCR, supply addition primarily took place due to the receipt of the delayed completion certificates. This resulted in a release of the pent-up supply
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