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COVID-19 impact | Real estate launches decline 56% in H1 2020: ANAROCK

The maximum number of units were launched in MMR and stood at 10,490, followed by Bengaluru at 9,190 units

Representative image

Representative image

On account of the nationwide lockdown imposed from the last week of March, new launches declined 56 percent in the first half of 2020 to 42,610 units. Going forward, consolidation among realty players will increase with branded players gaining a market share of almost 75 percent, a recent report by ANAROCK stated.

The maximum number of units were launched in Mumbai Metropolitan Region (MMR) at 10,490, followed by Bengaluru at 9,190 units.

Despite the pandemic, sales exceeded launches in the first half of 2020 but they did decrease by 49 percent year-on-year to 57, 940 units, the report said.

All cities witnessed a decline in sales to the tune of 46 percent to 51 percent over the second half of 2019.

The maximum number of units sold in MMR stood at 17,530 units, followed by Bengaluru at 11,620 units, the report said.

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A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

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The first half of 2020 recorded a 56 percent reduction in supply over H2 2019. This has been the lowest supply in the last five years. All cities witnessed a reduction in supply in H1 2020, the report said.

In H1 2020 as well, all cities continued to remain focused on the affordable and mid-segment. The share of new launches in the affordable segment in H1 2020 was around 36 percent of total supply.

Unsold inventory marginally decreased by 2 percent over H2 2019 as sales continued to exceed new launches. Total unsold inventory was 6.33 lakh units. Majority of cities witnessed a decline in unsold inventory in the range of 1 percent to 5 percent, the report said.

Maximum unsold inventory was in MMR at 2.09 lakh units, followed by NCR at 1.71 lakh units.

Prices remained rangebound in all cities during H1 2020 and the same trend is likely to continue as developers would be keen to liquidate existing inventory.

Inventory overhang increased to 44 months from 30 months in the last six months. Bengaluru continued to be the most active market, while Hyderabad has the least unsold inventory sentiments, the report said.

Consolidation among players is likely to rise causing branded players to gain market share to the tune of 75 percent to 80 percent.

Township projects that account for only 5 percent across major cities are likely to rise in the future as residents would prefer to work-live-play in a controlled environment, it added.
Moneycontrol News
first published: Jun 29, 2020 05:56 pm

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